Consumer inflation reached a four-month high of 5.69%, within the tolerance range of RBI
On January 12, the Indian government announced the consumer price index statistics for December. According to figures issued by the Ministry of Statistics and Program Implementation, consumer inflation reached a four-month high of 5.69%.
The rate of inflation remains within the Reserve Bank of India's tolerance range of 2–6%.
The Consumer Price Index (CPI) examines changes in the prices of the most prevalent consumer products and services to determine retail inflation. CPI is determined for a set of products such as food, housing, clothing, gadgets, and medical care.
According to a CNBC-TV18 poll, CPI in December is expected to be 5.9%, up from 5.55% the previous month. Retail inflation was 5.55% in November, up from 4.87% the previous month.
Also read: ILO projected a minor rise in the worldwide unemployment rate to 5.2% in 2024
Food inflation increased year on year. Core inflation, on the other hand, fell to 3.77%, owing to a seasonal, sequential drop in housing. According to Madhavi Arora of Emkay Global, the fourth-quarter inflation trend would be more noticeable, averaging 5.1%, although core inflation could be less than 3.75%.
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