Page 19 - Policy_Economic_Report_September2020

Policy and Economic Report:
Oil & Gas Market

Inflation

Consumer prices in India rose by 6.69 percent year-on-year in August of 2020, against expectation of 6.73
percent rise in the previous month and well below forecasts of 6.85 percent. However, the inflation is still
above the RBI’s upper band of 2 percent-6 percent target range. A slowdown was also noticed in food
prices where vegetables went up 11.41 percent, pulses 14.44 percent, cereals 5.92 percent, meat and fish
16.5 percent and sugar 3.93 percent.

India Inflation Rate (Per cent)

8 7.35 7.59 7.22
6.93
7 6.58 6.69
6.26 6.23
5.84
6 5.54
5 4.62
3.99
4 3.28
3
2
1
0
Aug'19 Sep'19 Oct'19 Nov'19 Dec'19 Jan'20 Feb'20 Mar'20 Apr'20 May'20 Jun'20 Jul'20 Aug'20

Source: Ministry of Statistics and Programme Implementation (MoSPI)

18
September 2020