Data released by the union government revealed that the retail inflation in the country has surged. The retail inflation has surged surpassing the Reserve bank of India’s comfort level and it reached the highest increase in the last five year.
As per data retail inflation has reached 7.35% in December. The reason for the appreciation of inflation is high price of food and vegetables. This is the highest since July 2014.
Retail inflation based on Consumer Price Index(CPI) was 2.11% in December 2018 and 5.54% in November 2019. Food inflation rose to 14.12% in December. It was 2.65% in December 2018 and 10.01% in November 2019.
The central government has mandated the Reserve Bank of India to keep inflation in the range of four per cent with a margin of two per cent on the either side.
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