Commerce forecasts inflation rate this year to rise 0.55%

Inflation rate or consumer price index (CPI) for December last year rose to 101.37 Index Points, a 0.78% year-on-year increase, the Ministry of Commerce said on Wednesday (Jan 3).

But for 2018, the ministry forecasts 0.55% rise for the 12 months ending December.

The ministry said the CPI for December was 0.08% lower than in November, making the CPI for the past 12 months ending December at 0.66% increase.

But for the core CPI, it rose 0.62% to 101.61 Index Points year-on-year, and 0.02% over November.

This made the Core CPI for the past 12 months in 2017 to rise 0.56%.