[ad_1]
NEW DELHI: India’s retail inflation based on consumer price index (CPI) eased marginally to 6.44% in February, down from 6.52% in January.
However, the inflation is still above the Reserve Bank of India’s (RBI) comfort zone of 6% for the second month in a row, data released by the government showed on Monday.
The inflation rate for the food basket was 5.95 per cent in February, lower than 6 per cent in January
However, the inflation is still above the Reserve Bank of India’s (RBI) comfort zone of 6% for the second month in a row, data released by the government showed on Monday.
The inflation rate for the food basket was 5.95 per cent in February, lower than 6 per cent in January
Except for November and December 2022, retail inflation has remained above the RBI’s upper tolerance level of 6 per cent since January 2022.
Retail inflation had accelerated to a three-month high in January on the back of rising prices of cereals, eggs, meat, fish and milk, and reversed the easing trend to pose a fresh challenge for policymakers.
The Reserve Bank has projected retail inflation at 6.5 per cent for 2022-23, with the January-December quarter at 5.7 per cent.
The central bank has been mandated by the government to ensure the retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
(With inputs from agencies)
[ad_2]
Source link
