PR No – 84
13th May, 2024
New Delhi
PHDCCI appreciates continuous easing in CPI inflation
Mr. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry has appreciated the continuous softening of CPI inflation to 4.83 in April, 2024.
In the recent months, inflation has come down significantly due to continuous softening in housing inflation from 3.2% in January 2024 to 2.6 in April 2024, fuel and light from -0.6% in January 2024 to -4.2 % in April 2024, clothing and footwear categories from 3.3% in January 2024 to 2.8% in April 2024 and pan, tobacco and intoxicants from 3.2% in January 2024 to 2.9% April 2024. However, inflation is still sticky in food and beverages at 7.8 in April 2024, said Mr. Agrawal.
Proactive measures by the Government to strengthen the supply chains are leading to softening of inflation in many items, he said.
Going forward, inflation trajectory is expected to become normal by September/October 2024 as many of the kharif crops will be entering the mandis and supplementing the existing supply, said Mr Sanjeev Agrawal.