Retail Inflation Dips to 5.10% in January, Lowest in Three Months: Government Data
In a positive economic development, retail inflation in India experienced a notable decline, reaching a three-month low of 5.10% in January. The latest official data attributes this reduction primarily to lower food prices.
The Consumer Price Index (CPI)-based inflation stood at 5.69% in December 2023 and 6.52% in January 2024. Notably, inflation had peaked at 6.83% in August 2023.
The National Statistical Office (NSO) released data indicating that food basket inflation dropped to 8.3% in January 2024, a significant decrease from the 9.53% recorded in the previous month.
The government has entrusted the Reserve Bank of India with the responsibility of maintaining retail inflation at 4%, with a permissible margin of 2% on either side. This latest dip in inflation is a positive indicator for economic stability.
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