Food prices fall for 4th month, brings overall inflation down
Food prices in India kept falling for the fourth month straight, with retail food inflation at -2.28% in September 2024—a big drop from August's -0.64%.
This helped push overall consumer price inflation down to 1.54%, an 8-year low.
Vegetable prices plunged by over 21% compared to last year
The main reason for cheaper food? Vegetable prices plunged by over 21% compared to last year, and pulses dropped by about 15%.
Cereal prices also cooled off, making daily staples a bit easier on wallets.
Not everything got cheaper
Not everything got cheaper—rice, wheat, meat, and eggs all saw modest price hikes.
Edible oils and fruits actually jumped up a lot (over 18% and nearly 10%), mostly because of global trends and a weaker rupee.
Better monsoons, solid harvests, good buffer stocks
Better monsoons, solid harvests, good buffer stocks, and more imports (especially for pulses) all played a part in bringing many prices down.
For example, arhar dal is almost 30% cheaper than it was at the start of the year thanks to these factors.
Higher costs for oils and fruits still pinch household budgets
Cheaper basics like veggies and pulses offer some relief after months of ups and downs—but higher costs for oils and fruits still pinch household budgets.
So while your grocery bill might feel lighter overall, not every item is following the same trend.