Ira Singh
Khabar Khabaron Ki,13 Feb’24
India’s retail inflation has eased to 5.10% on an annual basis, according to data released by the Ministry of Statistics & Programme Implementation on Monday. This is a decline from December’s four-month high of 5.69%. A Reuters poll had predicted a three-month low of 5.09%. The inflation rate remains within the Reserve Bank of India’s tolerance band of 2-6%,offering stability in monetary policy considerations amidst economic fluctuations.
Inflation rate in rural and urban areas stood at 5.34 per cent, 4.92 per cent, down from 5.93 per cent and 5.46 per cent seen in the same month a year ago, according to reports.
The sharp moderation in inflation can be attributed to cooling of food prices. The food inflation for January stood at 8.30 per cent versus 9.53 per cent recorded in December.