India's retail inflation rises to three-month high at 6.52% in January
Retail inflation in India reached a three-month high of 6.52 percent in January, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday. Retail inflation was 6.01 percent in January 2022.
CPI-based inflation was 5.72 percent in December, with core inflation at 6.10 percent.
Retail inflation, also known as the consumer price index (CPI), tracks the change in retail prices of goods and services purchased by households for daily consumption.
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In rural India, inflation reached 6.85 percent. It was up 6% in urban areas of the country. Food inflation was 5.94% this year, up from 5.43 percent the previous year. It was also higher than the December 2022 figure of 4.19 percent.
In a recent monetary policy announcement, Reserve Bank of India (RBI) Governor Shaktikanta Das stated that inflation is expected to rise to 6.5 percent in FY23. It is expected to fall to 5.3% in FY24. However, he further added that inflation is still "sticky".
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- With inputs from agencies
