Inflation under control: Centre

New Delhi: While the GDP growth remains on track in 2023-24, the declining trend in headline inflation was briefly interrupted in the second quarter due to a spike in the prices of certain food items, however, according to the Union Finance Ministry, it was a temporary phenomenon caused by the seasonal and weather-driven supply constraints in a few food items.

In a report released by the Finance Ministry recently, it was stated that headline inflation has moved to track (under control) on the back of vegetable price correction and the recent reduction in LPG prices.

"As per the latest release of the consumer price index (CPI), headline inflation was 5 per cent in September, within the upper tolerance limit of inflation targetting.

This indicates that the increase in inflation during July-August was only temporary, caused by the seasonal and weather-driven supply constraints in a few food items," the report noted.

Among the 299 items in the CPI basket, only 11.4 per cent of food items with double-digit inflation in July caused a spike in headline inflation.