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Retail inflation eases to 3-month low of 5.1 pc in January 2024: Govt data

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

Arushi Jaiswal Edited By: Arushi Jaiswal @JaiswalArushi New Delhi Updated on: February 12, 2024 18:41 IST
Retail inflation
Image Source : FILE PHOTO Representative image

New Delhi: India's retail inflation eased to a three-month low of 5.10 per cent in January 2024 primarily due to reduced food prices, the data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) said on Monday. 

Inflation based on the Consumer Price Index (CPI) was at 5.69 per cent in December 2023 and 6.52 per cent in January 2024.

Inflation data

According to the government data, the CPI rural stood at 5.34 per cent and the CPI urban was at 4.92 per cent. Meanwhile, the combined CPI inflation for January 2024 stood at 5.10 per cent. 

India Tv - Retail inflation

Image Source : PIBRetail inflation

Notably, in August 2023, inflation touched a high of 6.83 per cent.

According to the data released by the National Statistical Office (NSO), retail inflation in the food basket was at 8.3 per cent in January 2024, down from 9.53 per cent in the preceding month.

Also Read: UPI, RuPay services in Sri Lanka, Mauritius launch in yet another India's foray into Global Payments System

Also Read: Govt examining foreign direct investment flow from China in Paytm Payments Services: Sources

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