Cost of food in India decreased 0.86 percent in October of 2018 over the same month in the previous year. It is the lowest reading since June of 2017. Prices went down for vegetables (-8.06 percent), pulses and products (-10.28 percent) and sugar and confectionery (-7.64 percent) but rose slightly for fruits (0.35 percent). Food Inflation in India averaged 6.26 percent from 2012 until 2018, reaching an all time high of 14.72 percent in November of 2013 and a record low of -2.12 percent in June of 2017.
Food Inflation in India is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in India to stand at 2.90 in 12 months time. In the long-term, the India Food Inflation is projected to trend around 4.70 percent in 2020, according to our econometric models.