Retail inflation again breached the Reserve Bank’s upper tolerance limit and touched a three-month high of 6.52 per cent in January, mainly due to higher prices in the food basket, including cereals and protein-rich items.
With the exception of November and December 2022, retail inflation has remained above the RBI’s upper tolerance level of 6 per cent since January 2022.
The retail inflation based on the Consumer Price Index (CPI) was 5.72 per cent in December and 6.01 per cent in January 2022. The previous high was 6.77 per cent in October. While the prices of vegetable declined in January, most of the other items, including ‘fuel and light’ became dearer.
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