Retail inflation drops to 3-month low of 5.1pc in Jan

Thanks to lower food prices, retail inflation fell to a three-month low of 5.1 per cent in January, according to official data released on Monday.

Team RuralVoice

Published: Feb 12, 2024 - 20:40 Updated: Feb 12, 2024 - 20:43

Retail inflation drops to 3-month low of 5.1pc in Jan

Thanks to lower food prices, retail inflation fell to a three-month low of 5.1 per cent in January, according to official data released 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. 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.

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.

Meanwhile, India's industrial production grew 3.8 per cent in December 2023.