Retail inflation drops to 5.66% in March from 6.44% in February
Business | April 12, 2023 18:09 ISTThe retail inflation has dropped to 5.66 per cent in March from 6.44 per cent in February.
The retail inflation has dropped to 5.66 per cent in March from 6.44 per cent in February.
The drop in inflation rate based on the Consumer Price Index (CPI) from 6.52 per cent in January to 6.07 per cent in February 2022 will provide marginal relief to consumers.
Inflation: The retail inflation rose to a 3-month high of 6.52 per cent in January, the government data showed on Monday.
Retail inflation in December 2022: The Consumer Price Index based retail inflation was at 5.88 per cent in November 2022 and 5.66 per cent in December 2021.
Retail inflation: This is the first time in 11 months that the retail inflation print has come within the RBI's tolerance band of 4 (+/- 2) per cent. The consumer price index (CPI) based retail inflation was 6.77 per cent in October 2022, and 4.91 per cent in November last year.
The Consumer Price Index (CPI) based retail inflation has remained above the 6 per cent target since January this year.
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Retail inflation: In June, retail inflation was at 7.01 percent and it stood at 5.59 percent in July 2021.
The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling CPI-IW every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country.
Inflation update: The consumer price index (CPI) based inflation stood at 7.04 per cent in May and 6.26 per cent in June 2021.
However, it remained above the RBI's upper tolerance level for the fifth consecutive month, suggested government data.
The inflation in the food basket was 7.68 per cent in March, up from 5.85 per cent in the preceding month.
As per the data released by the National Statistical Office (NSO), food inflation rose to 4.05 per cent in December this fiscal compared to 1.87 per cent in the preceding month.
The Consumer Price Index-based (CPI) inflation was at 5.30 per cent in August and at 7.27 per cent in September 2020.
The CPI-based inflation for farm and rural workers stood at 3.92 per cent and 4.09 per cent, respectively in July this year.
As per the data released by the National Statistical Office (NSO), inflation in the food basket was 3.11 per cent in August compared to 3.96 per cent in the preceding month.
The all-India CPI-IW (Consumer Price Index-Industrial Workers) for July 2021 increased by 1.1 points and stood at 122.8 points. It was 121.7 points in June 2021.
Retail inflation eased to 5.59 per cent in July mainly due to softening food prices, according to official data released on Thursday. The Consumer Price Index (CPI) based inflation was 6.26 per cent in June and 6.73 per cent in July 2020.
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