Retail Inflation: The retail inflation rate in the country increased to 4.48% in the month of October. This information has been given in the data released on Friday by the Ministry of Statistics and Program Implementation (MoSPI). Let us tell you that the retail inflation rate is measured only through the Consumer Price Index (CPI for short).
Festive season effect?
Earlier in September, the retail inflation rate was 4.35 percent. Going by government data, retail inflation rose marginally in October due to the rise in food prices. In the month of October itself, exactly a year ago, the retail inflation rate was 7.61 percent.
According to the data, the retail inflation rate in the country, for the fourth consecutive month, is within the comfort zone of the Reserve Bank of 2 percent to 6 percent. RBI has set a target of keeping the inflation rate at 4 percent till 2026. In this, the space of 2 percent less and more has been given.
Inflation in the comfort zone of the Reserve Bank
For the fourth consecutive month, the inflation rate (CPI) is from the Reserve Bank of India’s six percent margin. The government had asked the RBI to maintain the retail inflation rate at four per cent for five years till March 2026 with upper and lower margins of two per cent. The Reserve Bank is running according to the same target.
RBI has projected retail inflation to be at 5.3% in the current financial year, as against 5.1% in the second quarter. The Reserve Bank has estimated that the retail inflation rate may be 4.5% in the third quarter and 5.8% in the fourth quarter.
According to the data released by the National Statistical Office (NSO), the prices of food items have become expensive by about 0.85% in October. It has been told by the government that the retail inflation rate increased more in urban areas than in rural areas. While retail inflation in rural areas stood at 4.07 per cent, it was 5.04 per cent in urban areas. In this way, the retail inflation rate has reached the level of 4.48 in the whole country.
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