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retail inflation There has been a setback on the front once again. Retail inflation rose to a three-month high in January. According to data released by the government on Monday, retail inflation rose to a three-month high of 6.52% in January. In December 2022, the retail inflation rate was 5.72 percent. With this increase, once again the repo rate increase in the RBI policy to be held in April seems to be fixed because the rate of inflation has again reached above the target of RBI.
food items became expensive
Inflation in food articles stood at 5.94 per cent in January as against 4.19 per cent in December due to costlier food items. Earlier, retail inflation stood at an all-time high of 6.77 per cent in the month of October. The Reserve Bank of India mainly looks at retail inflation while considering monetary policy. The central bank is entrusted with the responsibility of keeping inflation at 4 per cent with a range of 2 per cent.
Vegetable prices fell in January
According to data from the National Statistical Office (NSO), the prices of vegetables declined in January. However, inflation in other categories including fuel and light increased. Inflation in food articles stood at 5.94 per cent in January. It was 4.19 percent in December and 5.43 percent in the same month last year. Inflation in villages was higher than in cities. While it was 6.85 per cent in rural areas, it was six per cent in urban centres. The Reserve Bank of India mainly looks at retail inflation while considering monetary policy. The central bank is entrusted with the responsibility of keeping inflation at 4 per cent with a range of 2 per cent. Last week, RBI increased the policy rate repo by 0.25 percent to 6.5 percent to keep inflation under control. The Reserve Bank has projected retail inflation to remain at 6.5 percent in 2022-23.
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