New Delhi: Data released by the Union Ministry of Statistics and Programme Implementation revealed that the retail inflation, based on the consumer price index (CPI), rose to 6.52% in January. The retail inflation surged to a 3-month high in the last month. It was at one-year low of 5.72% in December last year.
As per the data, the rise in food inflation is the main reason for the surge in retail inflation, based on the consumer price index. Food inflation climbed to 5.94% in January. It was at 4.19% in December.
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In December last year, the CPI came below the Reserve Bank of India’s (RBI) upper margin of 6% for the first time in the calendar year. The government has mandated the central bank to maintain retail inflation at 4% with a margin of 2% on either side.
Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI. Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market.
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