Retail inflation at 3-mth high
Rises to 5.55% in Nov on higher food prices; It’s still higher than RBI’s tolerance level of 4%
image for illustrative purpose
New Delhi: Retail inflation inched up to a three-month high of 5.55 per cent in November driven by higher food prices, according to official data released on Tuesday. The retail inflation based on the Consumer Price Index (CPI) was at 4.87 per cent in October. Inflation had been declining since August when it touched 6.83 per cent.
Retail inflation was 5.88 per cent in November last year. The rate of price rise in the food basket was 8.7 per cent against 6.61 per cent in October and 4.67 per cent in November 2022, the National Statistical Office (NSO) data showed. The Reserve Bank of India has been tasked by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
