The National Statistical Organization released the CPI index for the month of April, 2020 only for

selected groups/commodities in the CPI

basket owing to the preventive measures and the announcement of nation-wide lockdown by the Government. As the collection of the
CPI for April 2020
data was limited for April, 2020, the General CPI inflation for the month of April, 2020 has not been compiled. The CPI inflation for
May 12, 2020 March’2020 has been revised lower from 5.91% (provisional) to 5.84% (Final).

The data for the limited commodities has been tabulated below. The data has been available primarily for the food and beverages
Contact: segment, housing and healthcare (which is part of the miscellaneous component). These components account for 60% of the total CPI
basket. Within the food and beverages segment, two sub-groups have been excluded namely meat and fish and prepared meals. Within
Madan Sabnavis the miscellaneous component, data for only health has been compiled.
Chief Economist Table: Inflation (yoy%) for select commodities
madan.sabnavis@careratings.com Weights Apr-19 Mar-20 Apr-20
91-22-68374433
Food and beverages 1.4 7.8 8.6
Author: Cereals and products 12.4 1.2 5.3 7.8
Sushant Hede Milk and products 7.7 0.4 6.5 9.4
Associate Economist Oils and fats 4.2 0.7 7.5 10.8
sushant.hede@careratings.com Fruits 2.9 -4.9 3.6 2.7
91-22-68374348
Vegetables 7.5 2.9 18.6 23.6
Mradul Mishra (Media Pulses and products 3.0 -0.8 15.8 22.8
Contact) Sugar and confectionary 1.7 -4.0 3.9 10.3
mradul.mishra@careratings.com Spices 3.1 0.8 9.8 12.8
91-22-68374424 Non-alcoholic beverages 1.4 3.2 2.2 2.2
Housing 10.1 4.8 3.7 3.9
Disclaimer: This report is prepared by CARE Ratings
Healthcare 6.8 8.4 4.2 2.8
Ltd. CARE Ratings has taken utmost care to ensure Source: MOSPI
accuracy and objectivity while developing this
report based on information available in public  Inflation in the food and beverages component rose to 8.6% in April, 2020 compared with 1.4% in the corresponding month a year ago
domain. However, neither the accuracy nor
completeness of information contained in this and 7.8% a month ago. The notable y-o-y growth can be ascribed to a low base effect and increase in the inflation of cereals, oils and
report is guaranteed. CARE Ratings is not fats, vegetables, pulses and sugar.
responsible for any errors or omissions in o There is double digit inflation recorded in 5 sub-groups in the food and beverages components with the highest seen in
analysis/inferences/views or for results obtained vegetables (23.6%) and pulses (22.8%).
from the use of information contained in this report
and especially states that CARE Ratings has no  Inflation in the housing component has been stable at 3.9%, 0.2% higher from a month ago. Inflation in the health sub-segment has
financial liability whatsoever to the user of this declined to 2.8% compared with 4.2% in March’20.
report.

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 CARE Ratings’ View:

Owing to limitation of data availability, the computation of the combined CPI inflation for April’20 was not feasible. However, the limited data
available shows that inflation in the food and beverages segment has seen an uptick. Though inflation in the food and beverages component
could be at elevated levels in the next few months owing to logistics challenges, inflation in other components (namely miscellaneous) could
moderate.

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