Retail inflation reached a four-month low in December
New Delhi| Retail inflation in the country fell to a four-month low of 5.22 percent in December. This rate was 5.48 per cent in November. This decline has come due to reduction in prices of food items. The government released figures regarding the same.
According to Consumer Price Index (CPI) data under the National Statistical Office (NSO), food inflation stood at 8.39 per cent in December. While it was 9.04 per cent in November and 9.53 per cent in December 2023. According to NSO, both the Consumer Price Index (General) and food inflation in December were at their lowest levels in the last four months.
The Reserve Bank of India (RBI) last month raised its inflation forecast for the current fiscal year 2024-25 from 4.5 per cent to 4.8 per cent. The central bank had also expected total inflation to remain high in the October-December quarter due to pressure on food prices.
Total inflation based on Consumer Price Index had increased from an average of 3.6 per cent during July-August to 5.5 per cent in September and 6.2 per cent in October, 2024.
