In November, India’s headline CPI inflation was 0.71% (YoY), 46 basis points higher than in October, when it had fallen to 0.25%, the lowest figure in the current CPI series.
According to government data, rising costs for vegetables, eggs, meat and fish, spices, fuel, and light are the primary causes of the increase in headline inflation. Comparing November to the same month last year, food inflation remained deflationary at 3.91%. Additionally, compared to the October food inflation, it represents a rise of 111 basis points.
After falling to -0.25% in October, the rural CPI increased to 0.10%. In rural India, food inflation also decreased marginally to –4.05% from –4.85% in the preceding month. November saw a rise in urban inflation from 0.88% to 1.40%. Cities’ food inflation decreased to -3.60% from -5.18% a month prior.
Inflation for fuel and light was 2.32% in November compared to 1.98% in October. As the economy continues to experience fast disinflation, the Reserve Bank earlier this month drastically reduced the inflation forecast for the current fiscal year from 2.6% to 2%.
In October 2025, India’s headline inflation fell to 0.25%, the lowest level ever recorded under the current CPI series, and retail inflation fell to a historic low. This represented a significant drop of 119 basis points from September. The administration said that prices in a number of categories have started to decline as a result of recent GST reductions.
