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The nation’s retail inflation rate has once more decreased. Following November, this inflation rate also decreased in December 2022. The retail inflation rate was 5.72 percent in December, down from 5.88 percent in November, according to the figures issued today.

The fact that this rate is the lowest in the previous 12 months is notable. It is important to note that the retail inflation rate has decreased, mostly as a result of a lowering of food costs.

Urban regions had a decrease in the CPI (Consumer Price Index) inflation rate from 5.68 percent in November to 5.39 percent in December. As a result, the CPI in rural regions dropped from 6.09 percent in November to 6.05 percent in December.

Inflation was a hot political topic in 2022 because it was increasing and the price of goods was rising. The RBI has been attempting to keep inflation under control for the past few quarters.

Soon, common folks who have been struggling with inflation for the past few months will get some comfort. This is due to the fact that the government’s Monday release of wholesale inflation data showed a decrease in inflation of 8.39 percent for the fifth consecutive month. Wholesale inflation was 10.70% earlier in September. In August, it was 12.41% at the same hour.

The wholesale inflation rate is at its lowest level in 19 months. Wholesale inflation was 7.89% earlier in March 2021. As a result, the country’s core sector’s inflation rate has decreased to 4.6%. In September, it was close to 7%.

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Inflation falls to single digits; the Annual rate of inflation based on all India Wholesale Price Index (WPI) number is 8.39% for the month of October 2022 as against 10.70% recorded in September 2022: Ministry of Commerce & Industry
— ANI (@ANI) November 14, 2022

Inflation reduced on these items

Monthly food inflation decreased from 11.03 percent in September to 8.33 percent in October. Vegetable inflation has decreased from 39.66% in September to 17.61% today. From 49.79% in September to 44.97% in October, there has been a decrease in potato inflation. From -20.96% the previous month, onion inflation has decreased to -30.02% this month.

Inflation is still above RBI’s target

Despite the decrease, the inflation rate continues to be above the Reserve Bank of India’s cap. A 2 to 6 percent inflation rate is the target set by the RBI. The rate of retail inflation has stayed over the desirable ceiling of 6% since January of this year.

Tag: Retail Inflation

Retail inflation rate decreased in the country in December, inflation rate was 5.72 percent

Big relief to the general public due to wholesale inflation, retail inflation reached a low of 3 months