Retail inflation eases to 4.59% in December, back within RBI's target range

Advertisement
Retail inflation eases to 4.59% in December, back within RBI's target range
BCCL
New Delhi, Retail inflation declined to 4.5% in December 2020 compared with 6.93% in November last, government data showed on Tuesday.

The data released by the Ministry of Statistics and Programme Implementation showed that the easing of the Consumer Price Index (CPI) came on the back of a decline in food prices.

The Consumer Food Price Index (CFPI) for last month came in at 3.41%, down from 9.50% in November 2020.

Advertisement

The provisional rural CPI in December 2020 was recorded at 4.07%, down from 7.20% in the previous month. The urban CPI was 5.19% last month, compared with 5.19% in November 2020.

The ease in retail inflation for the second consecutive month is a major development as it may give an impetus for a rate cut in the next meeting of the Reserve Bank of India's Monetary Policy Committee.



Advertisement
SEE ALSO:
How to backup and restore messages in Signal app
WhatsApp says your privacy won't be affected if you don't use these two optional features
India's top court puts three new farm laws on hold — forms a five-member panel to resolve the deadlock
{{}}