Retail inflation, based on the consumer price index (CPI), eases to an eleven-month low of 5.88 per cent in November this year. As per the Ministry of Statistics and Programme Implementation data released today, retail inflation came down mainly due to ease in food prices which stood at 4.67 per cent and a higher base effect. Retail inflation slipped to the lowest level since December last year.
In October, India’s annual retail inflation had eased to a three-month low of 6.77 per cent.
The CPI has come below the Reserve Bank of India’s (RBI) upper margin of six per cent for the first time in the calendar year 2022. The Government has mandated the central bank to maintain retail inflation at four per cent with a margin of two per cent on either side.