Economy
India's Retail Inflation Rises To 6.52 Per Cent In January On Increasing Food Prices, Breaches RBI's Tolerance Level
Inflation (Representative image)
Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday.
The inflation rate based on the Consumer Price Index (CPI) stood at 5.72 per cent December and 6.01 per cent in January 2022.
Inflation rate for the food basket was at 5.94 per cent in January, up from 4.19 per cent in December 2022.
The previous high was 6.77 per cent in October 2022.
After remaining above the Reserve Bank of India's upper tolerance threshold of 6 per cent since January 2022, retail inflation declined in November to 5.88 per cent and further in December to 5.72 per cent -- its lowest level in one year.
The Reserve Bank has been mandated by the central government to ensure the retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
(With inputs from PTI)
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