Rate Of Inflation Based On All India Consumer Price Index (cpi) And Consumer Food Price Index (cfpi) For The Month Of September 2021 ?

Inflation is a big issue in the country. On Tuesday, the Ministry of Statistics and Program Implementation (MSPI) released the Consumer Price Index (CPI) i.e. Retail Inflation and Consumer Food Price Index (CFPI). According to this, within the last one year, there has been a decline in retail inflation by 3.26%, while the inflation of food items has come down by 10.39%. Meaning in clear words, all the things you consume from food to drink in your domestic life have become cheaper.

Now let’s talk about petrol-diesel and natural gas. Petrol and diesel prices have increased by about Rs 15 from October 2020 to October 2021. Similarly, natural gas i.e. LPG, CNG and PNG has also increased by Rs 5-15. Now you must be thinking that even after increasing the price of petrol, diesel and gas, how is the inflation rate going down? Understand from Dr. Manoj Shrivastava, Economist of DAV College, Kanpur, what is the whole game of inflation…

CPI stands for Consumer Price Index and Retail Inflation. Understand in simple words, it contains a list of all the items used in your household and their prices are increased or decreased. Similarly, CFPI is the Consumer Food Price Index. It contains a list of everything to eat and drink. If you look at the figures for October 2020, then the CPI was 7.61% and the CFPI was 11.07%. Since then it has been continuously declining.

Source: Ministry of Statistics and Program Implementation (MSPI)
On Wednesday i.e. today, petrol prices in most cities of the country are between Rs 100-110. Similarly, the price of diesel is between Rs 90 and Rs 101. In October last year, petrol prices ranged from Rs 81-95 and diesel in the range of Rs 70-75. Dr. Manoj Srivastava, Professor and Economist of DAV College, explains that Consumer Price Index and Consumer Food Price Index are a kind of basket. In this, there is a list of every item used from food and drink to household use and its increasing and increasing prices.
Only the overall data has been given in the index report released by the government so far. It has not been told what items are included in this basket. Right now during the lockdown, the use of many things had decreased. Now the stock of those things has increased and the seller wants to sell them at any cost. The prices of such things fall rapidly because the demand for that commodity is low, while the stock remains high. Although its number is less. The market has increased after the lockdown. All closed industries and markets have opened. Therefore, there is also a decrease in inflation.