As a result, retail inflation in the country remained within the limits set by the Reserve Bank (RBI) for three consecutive months.
New Delhi: Retail inflation in the country has come down further. Retail inflation is lowest in last two years. With this, the retail inflation rate decrease for three consecutive months. Retail inflation eased to 4.25 percent in May, according to data released by the Center on Monday. Which is quite a bit lower than April's 4.7 percent.
As a result, retail inflation in the country remained within the limits set by the Reserve Bank (RBI) for three consecutive months. RBI's inflation tolerance limit is 6 percent. According to the National Statistics Office (NSO) report, the country's retail inflation has reached its lowest level in the last two years due to the fall in food prices.
Sky-rocketing difference in retail inflation compared to same period last year. Retail inflation based on Consumer Price Index (CPI) was 7.04 percent in May 2022. It has decreased by 2.79 percent in one year. Inflation in India also went up in 2022 mainly because of the Russo-Ukraine war. The prices of various food items in the country were high. Because many things, including oil, were imported into India from Russia and Ukraine.
While retail inflation is within the RBI's target range, the apex bank and the central government are aiming to bring it below 4 percent. CPI fell to 2.91 percent in May. Which was 3.84 percent in the previous month. Besides, rural inflation stood at 4.17 percent and urban inflation stood at 4.27 percent in May.
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