retail inflation
Retail Inflation: Inflation in February has given relief as compared to the first month of the current year. But there are still concerns. Because even in February the inflation rate is above the target of the Reserve Bank. The Ministry of Statistics and Program Implementation released the retail inflation rate on Monday. It was observed that the inflation rate in February 2023 was 6.44 percent. The inflation rate in January was 6.52 per cent. In other words, there has been a slight reduction in inflation. But the country’s central bank’s inflation target is between 2-6 percent.,
Analysts believe that the hike in food prices is responsible for the high inflation levels. Because about 40 percent of consumer price index ie retail inflation depends on the increase in food prices. But this rate is much higher than what economists have calculated. In December last year, the retail inflation rate or consumer price index was 5.72 per cent. In comparison, the CPI has increased significantly. Inflation has again hit, partly due to rising food prices. Because 40 percent of the inflation rate depends on the price of food and drink.
Food inflation was 5.95 per cent in February. Last month, the inflation rate of vegetables was 11.6 per cent.
Earlier this inflation rate was 11.7 percent. Meanwhile, the inflation rate of light and energy stood at 10.84 per cent in January. In the second month of the year, this rate fell to 9.90 per cent.
High inflation has long been a concern of central banks around the world, including India. Because the Russia-Ukraine war has increased uncertainty. The supply chain has also been affected.
According to analysts, the RBI will bring down the inflation rate to a band of 2-6 per cent. Earlier, the country’s central bank had increased the repo rate several times to control inflation. On February 8 also, the Reserve Bank had increased the rate by 25 basis points.
retail inflation,
Retail Inflation: Inflation has come down in February as compared to the first month of this year. But there are still concerns. Because even in February the inflation rate is higher than the target of the Reserve Bank. The Ministry of Statistics and Program Implementation released the Retail Price Inflation on Monday. It was observed that the inflation rate in February 2023 was 6.44 percent. The inflation rate in January was 6.52 per cent. In other words, there has been a slight reduction in inflation. However, the country’s central bank’s inflation target is between 2 and 6 percent.
Analysts believe that the increase in food prices is responsible for the high inflation. Because about 40 percent of consumer price index ie retail inflation depends on the increase in food prices. But this rate is much higher than the estimates of economists. The retail price inflation rate or consumer price index stood at 5.72 per cent in December last year. In comparison, the CPI has increased significantly. Inflation has again hit, partly due to rising food prices. Because 40 percent of inflation depends on food prices.
Food inflation was 5.95 per cent in February. The inflation rate of vegetables was 11.6 per cent last month.
Earlier the rate of inflation was 11.7 percent. Meanwhile, power and energy inflation stood at 10.84 per cent in January. In the second month of the year, this rate came down to 9.90 per cent.
High inflation has long been a cause of concern for central banks around the world, including India. Because the Russia-Ukraine war has increased uncertainty. The supply chain has also been affected.
According to analysts, the RBI will bring down the inflation rate in the range of 2-6 per cent. Earlier, the country’s central bank had increased the repo rate several times to control inflation. Also, on February 8, the Reserve Bank increased by 25 basis points.