NEW DELHI, October 18 — The National Statistical Office (NSO), operating under the Ministry of Statistics and Programme Implementation (MoSPI), released official Consumer Price Index (CPI) metrics on Sunday showing annual headline retail inflation steady at 4.2%, with non-food, non-energy core inflation moderating to 3.4%.
The Consumer Food Price Index (CFPI) registered broad-based stabilization across essential staples, driven by robust early market arrivals of Kharif paddy, pulses, and edible oil consignments that cooled transient supply pressures. Core inflation—which excludes volatile food and fuel categories—eased to multi-year lows, reflecting anchored inflation expectations and disciplined fiscal-monetary coordination.
Economic analysts highlighted that headline inflation persisting well within the Reserve Bank of India’s statutory target band of 4% (with a +/- 2% tolerance range) provides significant macroeconomic headroom for continued private capital expenditure, lower borrowing yields, and sustained industrial growth trajectories.
The statistical methodology of CPI calculation (base year 2012=100 published monthly by NSO), Wholesale Price Index (WPI base year 2011-12 under DPIIT), the Flexible Inflation Targeting (FIT) statutory framework under Section 45ZB of the RBI Act 1934, and the composition of the Monetary Policy Committee (MPC) are foundational concepts for UPSC and banking examinations.