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Annual Report


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Date : Aug 29, 2018
Inflation, Money and Credit
(Per cent)
Inflation
Consumer Price Index (All India)# Rural Urban Combined
2015-16 2016-17 2017-18 2015-16 2016-17 2017-18 2015-16 2016-17 2017-18
1 2 3 4 5 6 7 8 9 10
General Index (All Groups) 5.6 5.0 3.6 4.1 4.0 3.6 4.9 4.5 3.6
Food and beverages 5.4 4.7 2.4 4.6 3.9 1.8 5.1 4.4 2.2
Housing 4.9 5.2 6.5 4.9 5.2 6.5
Fuel and light 6.8 4.6 6.5 2.7 1.0 5.6 5.3 3.3 6.2
Miscellaneous 4.7 5.1 4.3 2.8 3.7 3.1 3.7 4.5 3.8
Excluding Food and Fuel 5.5 5.5 4.7 3.9 4.3 4.6 4.6 4.8 4.6
Other Price Indices 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18
1. Wholesale Price Index (2011-12=100)*                  
All Commodities 3.8 9.6 8.9 7.4 5.2 1.3 -3.7 1.7 2.9
Primary Articles 12.7 17.7 9.8 9.8 9.8 2.2 -0.4 3.4 1.4
of which : Food Articles 15.3 15.6 7.3 9.9 12.3 5.6 2.6 4.0 2.1
Fuel and Power -2.1 12.3 14.0 10.3 7.1 -6.1 -19.7 -0.3 8.2
Manufactured Products 2.2 5.7 7.3 5.4 3.0 2.6 -1.8 1.3 2.7
Non-Food Manufactured Products 0.2 6.1 7.3 4.9 2.7 2.7 -1.8 -0.1 3.0
2. CPI- Industrial Workers (IW) (2001=100) 12.4 10.4 8.4 10.4 9.7 6.3 5.6 4.1 3.1
of which : CPI-IW Food 15.2 9.9 6.3 11.9 12.3 6.5 6.1 4.4 1.5
3. CPI- Agricultural Labourers (1986-87=100) 13.9 10.0 8.2 10.0 11.6 6.6 4.4 4.2 2.2
4. CPI- Rural Labourers (1986-87=100) 13.8 10.0 8.3 10.2 11.5 6.9 4.6 4.2 2.3
Money and Credit
  2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17^ 2017-18
Reserve Money (RM) 17.0 19.1 3.6 6.2 14.4 11.3 13.1 -12.9 27.3
Currency in Circulation 15.7 18.8 12.4 11.6 9.2 11.3 14.9 -19.7 37.0
Bankers’ Deposits with RBI 21.0 20.2 -15.9 -10.0 34.0 8.3 7.8 8.4 3.9
Currency-GDP Ratio$ 12.3 12.2 12.2 12.0 11.6 11.6 12.1 8.8 10.9
Narrow Money (M1) 18.2 10.0 6.0 9.2 8.5 11.3 13.5 -3.9 21.8
Broad Money (M3) 16.9 16.1 13.5 13.6 13.4 10.9 10.1 6.9 9.2
Currency-Deposit Ratio 15.9 16.3 16.1 15.7 15.1 15.2 16.0 11.0 14.4
Money Multiplier (Ratio)## 4.8 4.7 5.2 5.5 5.5 5.5 5.3 6.7 5.8
GDP-M3 Ratio$## 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2
Scheduled Commercial Banks                  
Aggregate Deposits 17.2 15.9 13.5 14.2 14.1 10.7 9.3 11.3 6.2
Bank Credit 16.9 21.5 17.0 14.1 13.9 9.0 10.9 4.5 10.0
Non-food Credit 17.1 21.3 16.8 14.0 14.2 9.3 10.9 5.2 10.2
Credit-Deposit Ratio 72.2 75.7 78.0 77.9 77.8 76.6 77.7 72.9 75.5
Credit-GDP Ratio$ 50.1 50.6 52.8 52.9 53.4 52.4 52.7 51.4 51.4
# : Base for Consumer Price Index (All India) is 2012=100;    ^ : March 31, 2017 over April 1, 2016 barring RM and its components.
… : CPI Rural for Housing is not compiled.    ## : Not expressed in per cent.
* : Base for WPI is 2004-05=100 for the period 2008-09 to 2012-13 and 2011-12=100 for the period 2013-14 to 2017-18.
$ : GDP data from 2011-12 onwards are based on new series i.e., base: 2011-12.
Note: Data refer to y-o-y change in per cent, barring the ratios.
Source: RBI, CSO, Labour Bureau and Ministry of Commerce and Industry.

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