The retail inflation fee for India eased to six.44 per cent in February. (File)
New Delhi:
The annual retail inflation fee for India eased to six.44 per cent in February from 6.52 per cent in January, authorities information confirmed as we speak.
The retail inflation fee for rural areas stood at 6.7 per cent in comparison with 6.1 per cent in city areas. Food Inflation eased to five.9 per cent for the month of February from 6 per cent In January.
The inflation fee for the meals basket was 5.95 per cent in February, decrease than 6 per cent in January.
The Reserve Bank has been mandated by the federal government to make sure the retail inflation stays at 4 per cent, with a margin of two per cent on both facet.
CPI (Consumer Price Index) inflation was above the Reserve Bank of India’s focused restrict of 6 per cent for the second time in 4 months.
The earlier excessive was 6.77 per cent in October.
Except for November and December 2022, retail inflation has remained above the RBI’s higher tolerance restrict of 6 per cent since January 2022.
The RBI has hiked the repo by 250 foundation factors since May final yr to manage the rising costs. The newest hike of 25 foundation factors in February pushed the coverage fee to six.50 per cent.