New Delhi, March 12 (IANS) India’s retail inflation slowed to a four-month low of 5.09 per cent in February bringing some relief to household budgets, official figures released on Tuesday showed.
The retail Inflation in January was a tad higher at 5.1 per cent.
There was a sharp decline in cooking oil prices during February which came down by as much as 11.67 per cent. The price rise in spices slowed to 13.28 per cent, compared to 16.36 per cent in January.
However, the data show that vegetable prices shot up by as much as 31.38 per cent in January. There was no relief as far as pulses are concerned as they turned costlier by 20.47 per cent, while the prices of cereals went up by 7.83 per cent.
The consumer price inflation is now above the 4 per cent midpoint of the RBI’s 2-6 per cent target range and is the main reason why the central bank is not going in for a cut in interest rates to spur economic growth. The RBI is keen to keep inflation under control to ensure stability and has held the repo rate steady at 6.5 per cent for six consecutive times in a row in its bi-monthly monetary policy reviews.
The latest inflation data comes weeks before the RBI’s Monetary Policy Committee (MPC) meets again on April 3-5.
–IANS
sps/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
