According to the latest government data, retail inflation for December 2024 has slowed to 5.22%, the lowest in the last four months. This is mainly due to easing prices in the food basket, with food inflation dropping to 8.39% compared to 9.04% in November. The Reserve Bank of India has raised the inflation projection for the current fiscal year to 4.8%, citing lingering food price pressures. Stay updated with the latest news on NDTV.com from India and around the world.
Retail Inflation Falls to 4-Month Low of 5.22% in December 2024
Background
Retail inflation, as measured by the Consumer Price Index (CPI), is a key indicator of the rate at which prices are rising for goods and services purchased by consumers. The CPI tracks changes in the prices of a basket of essential commodities, housing, fuel, and other consumer goods.
In recent months, retail inflation in India has been a source of concern for policymakers. The Reserve Bank of India (RBI) has raised its policy interest rates to combat rising prices. However, the latest data from the government shows that retail inflation has moderated in recent months.
Current Trends
According to the latest data released by the government, retail inflation for December 2024 has slowed to 5.22%. This is the lowest level of inflation in the past four months. The easing of food prices is the primary factor behind the decline in inflation. Food inflation has dropped to 8.39% in December from 9.04% in November.
RBI's Inflation Projection
Despite the recent moderation in inflation, the RBI has raised its inflation projection for the current fiscal year to 4.8%. The RBI cited lingering food price pressures as the reason for the upward revision.
Impact on Consumers and Businesses
Lower inflation benefits consumers by reducing the cost of living. However, it can also impact businesses by reducing demand for products and services. Businesses may have to adjust their pricing and production strategies to adapt to the changing economic conditions.
Top 5 FAQs and Answers
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