India’s retail inflation surged to 6.30 per cent in the month of May, over and above the Reserve Bank of India’s (RBI) threshold of 6 per cent, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed on Monday.
Retail inflation rose to 6.3 per cent in May, breaching the RBI's comfort level, on the back of costlier food items, government data showed on Monday.
The Reserve Bank on Friday lowered the country's growth projection for the current financial year to 9.5 percent from 10.5 percent.
The Reserve Bank of India on Friday projected the retail inflation at 5.1 per cent in the current financial year ending March 31, 2022.
RBI Monetary Policy: RBI has maintained a status quo on repo rate and reverse repo rate on account of uncertainty over the impact of the second wave.
Retail inflation for industrial workers marginally eased to 5.14 per cent in April compared to 5.64 per cent in March, mainly due to lower prices of certain food items.
Retail inflation for farm workers and rural labourers rose marginally to 2.78 per cent and 2.96 per cent in March, mainly due to higher prices of certain food items.
This inflation was mainly on account of higher food prices. The consumer price index (CPI) based on retail inflation stood at 5.03 per cent in February.
The food inflation trajectory will critically depend on temporal and special progress of southwest monsoon in the 2021 season.
Retail inflation for industrial workers rose to 4.48 per cent in February, due to higher prices of fuel and certain food items. It had stood at 3.15 per cent in the previous month of January.
The government on Tuesday informed Parliament that inflation has remained low in the last seven years - except for a spike in some items - and the government is taking steps to bring it further down.
Retail inflation rose to 5.03 per cent in February mainly on account of higher food prices, government data showed on Friday.
Sequentially, the Consumer Price Index (CPI), which gauges the retail price inflation, declined to 4.06 per cent from 4.59 per cent reported for December 2020.
Retail inflation for industrial workers eased to 3.67 per cent in December 2020 against 9.63 per cent in the same month of last year due to lower prices of certain food items.
Retail inflation for farm and rural workers eased to 3.25 per cent and 3.34 per cent, respectively, in December, mainly due to lower prices of certain food items.
The Reserve Bank of India (RBI) is unlikely to further ease the interest rates in the next meeting of its Monetary Policy Committee even though retail inflation declined in December 2020, a report by Motilal Oswal Institutional Equities said.
Food inflation declined to 3.41 per cent in December in 2020, compared to 9.5 per cent in the previous month, according to the data released by the Ministry of Statistics and Programme Implementation.
Retail inflation for industrial workers eased to 5.27 per cent in November compared to 5.91 per cent in October, mainly due to lower prices of certain food items.
CPI inflation rose sharply to 7.3 per cent in September and further to 7.6 per cent in October, RBI Governor Shaktikanta Das said while unveiling its bi-monthly monetary policy review.
Driven by rising food prices, retail inflation inched up to 7.61 per cent in October, remaining above the comfort level of the Reserve Bank.
Top News
Latest News
