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Core services inflation eases to a nine-year low in FY24

Core inflation in June stood at 3.1 percent, sharply lower than 7.1 percent in February 2022

July 22, 2024 / 18:19 IST
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Inflation

Core services inflation in the financial year 2023-24 eased to a nine-year low and core goods inflation to a four-year low, the Economic Survey for fiscal 2023-24 has said.

Core services inflation was at 3.8 percent in FY24 against 6.9 percent in FY19, and 5.3 percent in FY16. Similarly, core goods inflation fell to 4.9 percent in FY24, as compared to 7.3 percent in FY22, the pre-Budget document, released on July 22, said.

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Core inflation in June stood at 3.1 percent, which was sharply lower than 7.1 percent in February 2022.

Core inflation is measured by excluding volatile food and energy items from CPI headline inflation.