Inflation, Money and Credit
| (Per cent) |
| Inflation |
| Consumer Price Index (CPI) [All India] |
Rural |
Urban |
Combined |
| 2022-23 |
2023-24 |
2024-25 |
2022-23 |
2023-24 |
2024-25 |
2022-23 |
2023-24 |
2024-25 |
| 1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
| General Index (All Groups) |
6.8 |
5.6 |
5.0 |
6.4 |
5.1 |
4.1 |
6.7 |
5.4 |
4.6 |
| Food and Beverages |
6.8 |
6.9 |
6.9 |
6.5 |
7.3 |
6.5 |
6.7 |
7.0 |
6.7 |
| Housing |
… |
… |
… |
4.3 |
3.9 |
2.8 |
4.3 |
3.9 |
2.8 |
| Fuel and Light |
9.6 |
1.8 |
-0.9 |
11.6 |
0.3 |
-5.1 |
10.3 |
1.2 |
-2.5 |
| Miscellaneous |
5.9 |
4.6 |
4.2 |
6.6 |
4.4 |
4.0 |
6.3 |
4.5 |
4.1 |
| Excluding Food and Fuel |
6.3 |
4.5 |
3.7 |
5.9 |
4.2 |
3.4 |
6.1 |
4.3 |
3.5 |
| Other Price Indices |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
2020-21 |
2021-22 |
2022-23 |
2023-24 |
2024-25 |
| 1. Wholesale Price Index (2011-12=100)# |
|
|
|
|
|
|
|
|
|
| All Commodities |
1.7 |
2.9 |
4.3 |
1.7 |
1.3 |
13.0 |
9.4 |
-0.7 |
2.3 |
| Primary Articles |
3.4 |
1.4 |
2.7 |
6.8 |
1.7 |
10.2 |
10.0 |
3.5 |
5.1 |
| of which : Food Articles |
4.0 |
2.1 |
0.3 |
8.4 |
3.2 |
4.1 |
7.3 |
6.6 |
7.3 |
| Fuel and Power |
-0.3 |
8.2 |
11.5 |
-1.8 |
-8.0 |
32.5 |
28.1 |
-4.7 |
-1.3 |
| Manufactured Products |
1.3 |
2.7 |
3.7 |
0.3 |
2.8 |
11.1 |
5.6 |
-1.7 |
1.7 |
| Non-food Manufactured Products |
-0.1 |
3.0 |
4.2 |
-0.4 |
2.2 |
11.0 |
5.8 |
-1.4 |
0.7 |
| 2. CPI- Industrial Workers (IW) [2001=100] |
4.1 |
3.1 |
5.4 |
7.5 |
5.0 |
5.1 |
6.1 |
5.2 |
3.4 |
| of which : CPI- IW Food |
4.4 |
1.5 |
0.6 |
7.4 |
5.8 |
4.7 |
6.1 |
7.3 |
6.0 |
| 3. CPI- Agricultural Labourers (1986-87=100) |
4.2 |
2.2 |
2.1 |
8.0 |
5.5 |
4.0 |
6.8 |
7.1 |
5.7 |
| 4. CPI- Rural Labourers (1986-87=100) |
4.2 |
2.3 |
2.2 |
7.7 |
5.5 |
4.2 |
7.0 |
6.9 |
5.7 |
| Money and Credit |
| |
2016-17^ |
2017-18 |
2018-19 |
2019-20 |
2020-21 |
2021-22 |
2022-23 |
2023-24 |
2024-25^^ |
| Reserve Money (RM) |
-12.9 |
27.3 |
14.5 |
9.4 |
18.8 |
13.0 |
7.8 |
5.6 |
3.3 |
| Currency in Circulation |
-19.7 |
37.0 |
16.8 |
14.5 |
16.6 |
9.8 |
7.8 |
3.9 |
5.8 |
| Bankers’ Deposits with RBI |
8.4 |
3.9 |
6.4 |
-9.6 |
28.5 |
25.4 |
6.1 |
10.2 |
-6.5 |
| Currency-GDP Ratio$ |
8.7 |
10.7 |
11.3 |
12.2 |
14.4 |
13.3 |
12.6 |
11.7 |
11.2 |
| Narrow Money (M1) |
-3.9 |
21.8 |
13.6 |
11.2 |
16.2 |
10.7 |
6.9 |
7.3 |
7.9 |
| Broad Money (M3) |
6.9 |
9.2 |
10.5 |
8.9 |
12.2 |
8.8 |
9.0 |
11.1 |
9.6 |
| Currency-Deposit Ratio |
11.0 |
14.4 |
15.4 |
16.3 |
17.2 |
17.4 |
17.3 |
16.0 |
15.4 |
| Money Multiplier* |
6.7 |
5.8 |
5.6 |
5.5 |
5.2 |
5.0 |
5.1 |
5.4 |
5.7 |
| GDP-M3 Ratio$* |
1.2 |
1.2 |
1.2 |
1.2 |
1.1 |
1.2 |
1.2 |
1.2 |
1.2 |
| Scheduled Commercial Banks |
|
|
|
|
|
|
|
|
|
| Aggregate Deposits |
11.3 |
6.2 |
10.0 |
7.9 |
11.4 |
8.9 |
9.6 |
12.9 |
10.6 |
| Bank Credit |
4.5 |
10.0 |
13.3 |
6.1 |
5.6 |
9.6 |
15.0 |
16.3 |
12.1 |
| Non-food Credit |
5.2 |
10.2 |
13.4 |
6.1 |
5.5 |
9.7 |
15.4 |
16.3 |
12.0 |
| Credit-Deposit Ratio |
72.9 |
75.5 |
77.7 |
76.4 |
72.4 |
72.2 |
75.8 |
78.1 |
79.1 |
| Credit-GDP Ratio$ |
50.9 |
50.5 |
51.7 |
51.6 |
55.1 |
50.4 |
50.9 |
52.8 |
53.8 |
# : Data for 2024-25 are provisional.
… : CPI Rural for Housing is not compiled.
^ : March 31, 2017, over April 1, 2016, barring RM and its components.
^^ : Data for Reserve Money pertain to March 28, 2025, while that of Money Supply relate to March 21, 2025.
$ : GDP data from 2011-12 onwards are based on new series i.e., base: 2011-12. GDP refers to GDP at Current Market Prices.
* : Not expressed in per cent.
Note: 1. Data refers to y-o-y change in per cent unless specified otherwise.
2. Base for CPI (All India) is 2012=100 whereas base for CPI-IW is 2001=100 till August 2020 and 2016=100 from September 2020 onwards.
Source: RBI, NSO, Labour Bureau and Ministry of Commerce and Industry. |
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