22 C
February 21, 2024
The Hona News

Retail Inflation Drops to Three-Month Low at 5.1% in January 2024, Mainly Due to Lower Food Prices

Last Updated: Feb 12, 2024

Tweeted By AIR

Retail inflation eased to a three-month low of 5.1 percent in January 2024, mainly on account of lower food prices. Inflation based on the Consumer Price Index (CPI) was at 5.69 percent in December 2023 and 6.52 percent in January last year. As per data released by the Ministry of Statistics & Programme Implementation today, the food inflation for January stood at 8.30 percent versus 9.53 percent recorded in December 2023.

The Reserve Bank of India has been tasked by the government to ensure retail inflation remains at 4 percent with a margin of 2 percent on either side.

RBI has kept repo rate unchanged at 6.50 percent for a sixth consecutive time last week.

Source link

Related posts

Government sets target of 50 lakh Digital Life Certificates by Central Government Pensioners by March next year


Union Minister Piyush Goyal urges auto industry to aim for at least 50% export share


India’s foreign exchange reserves rise for 7th straight week to reach 22-month high of 623.20 billion dollars


Leave a Comment