Retail Inflation: In January, it reached 6.01 percent, about two percent more than last year, know what is the reason for this increase
Inflation in food articles rose to 5.43 percent last month, according to the National Statistical Office (NSO). It was 4.05 percent in December.
In January, retail inflation reached a new high. The government reported that retail inflation is steadily increasing due to the price increases of food products last month. During January, it increased to 6.01 percent from 5.66 percent during December. This is higher than the RBI’s annual inflation target.
Also, in December last year, the Consumer Price Index (CPI) was 5.66 percent, while it was 4.06 percent in January. According to the National Statistical Office (NSO), inflation in food articles reached 5.43 percent in January 2022. In December, it was 4.05 percent.
When determining monetary policy, the Reserve Bank primarily considers inflation based on the Consumer Price Index. The government has entrusted the central bank with the responsibility to maintain the retail inflation rate at four percent with a variation of two percent.