The Consumer Price Index (CPI), or retail inflation, for January reached a three-month high of 6.52 percent, according to figures provided by the Ministry of Statistics and Program Implementation (MoSPI) on January 13.
Previously, the retail inflation rate fell to 5.72 percent in December. It was 5.88% in November and 6.77% in October 2022.
According to the statistics, retail inflation rebounded to 6% after the Reserve Bank of India lifted the policy repo rate by 25 basis points to 6.5 percent. has now exceeded it for 40 consecutive months.
In January, the food basket inflation rate was 5.94%, up from 4.19 percent in December.
According to data issued by the MoSPI’s National Statistical Office (NSO), rural retail inflation was 6.65 percent in January 2023, while urban inflation was 4.79 percent.
Looking at the specifics, grains and goods had a 16.12 percent increase in inflation, while eggs, milk, meat, and fish saw a 6–9 percent increase. However, prices fell by 11.7 percent for veggies but increased by 21.09 percent for spices.
Retail inflation in food and drinks climbed by 6.19 percent, while inflation in clothes and footwear jumped by 9.08 percent. Inflation in housing increased by 4.62 percent, while inflation in fuel and lighting increased by 10.84 percent. Miscellaneous increased by 6.21 percent.
