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Easy On Common Man’s Pocket: Retail Inflation Down To Just 2.05 Per Cent In January As Food Prices Decline
Market in India (Marc Shandro/Wikimedia Commons)
The retail price inflation for the month of January declined to 2.05 per cent as per government data released on Tuesday (12 February), Press Trust of India has reported.
This decline has been a result of lowering food prices including commodities like vegetables and eggs.
Incidentally, economists were predicting a figure to the tune of 2.48 per cent.
As per Consumer Price Index (CPI) for December 2018 the retail inflation has been revised to 2.11 per cent from the earlier estimate of 2.19 per cent. As per the data by Central Statistics Office (CSO) the inflation was recorded at 5.07 per cent in January 2018.
As per reports, the current inflation figures are in line with the Reserve Bank of India’s (RBI) medium-term target for the sixth consecutive month. This figure is also the lowest recorded since June 2017.
Also, the Index of Industrial Production (IIP) for December 2018 has been recorded at 133.7 which is 2.4 per cent higher than the December 2017 figure.
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