The retail industry in the nation saw inflation in January reach 6.52 percent, the highest level since October 2022. (6.77 per cent). 5.72 percent was the value in December.
The increase is greater than the Reserve Bank of India’s predicted 6% growth. 6.85% of the price increase in rural areas and 6% in urban areas are due to inflation.
The retail industry has been most negatively impacted by the increase in food prices. Food price inflation in January was 5.94%, says statistics. 4.19 percent was the value in December.
While the cost of grains has climbed by 16.12%, the cost of eggs and milk has increased by 8.78% and 8.79%, respectively.
However, costs for veggies decreased by 11.7%.
The repo rate was raised by the RBI last week. The apex bank has received instructions from the central government to keep the price increase in the retail sector at 4%.