At 5.88 Per Cent, Retail Inflation In November Falls Below RBI's Upper Tolerance Level For First Time In 11 Months

Retail inflation dipped below the RBI's upper tolerance level of 6 per cent for the first time in 11 months in November as softening prices of food items brought relief.

As per the data released by the National Statistical Office (NSO) on Monday, the consumer price index (CPI) based inflation fell for the second consecutive month to 5.88 per cent in November, from 6.77 per cent in October 2022.

The CPI inflation was 4.91 per cent in November last year.

The RBI, which has hiked benchmark interest rates by 2.25 per cent in five tranches since May to contain price rise, had last week projected retail inflation coming below the upper tolerance threshold of 6 per cent in the January-March period.

Inflation in the food basket was 4.67 per cent in November, against 7.01 per cent in the previous month.

However, there was a sequential uptick in the year-on-year inflation for miscellaneous items, fuel and light, and pan, tobacco and intoxicants segments.

(With inputs from PTI)