New Delhi. The news of a relief for the country’s economy has come to the fore. In the Indian economy, the retail inflation rate has come down to 5.88 percent in November, while the retail inflation rate in October 2022 was 6.77 percent. A year ago in November 2021, the retail inflation rate was 4.91 percent. There has been a drastic reduction in the inflation rate of food articles. The food inflation rate has come down to 4.67 per cent in the month of November while the food inflation rate was 7.01 per cent in October. On the other hand, food inflation declined in both urban as well as rural areas in the month of November.
Let us tell you that the biggest reason for the decline in the retail inflation rate across the country is the decline in the inflation rate of food items. Food inflation was 7.01 per cent in October 2022, which has come down to 4.67 per cent in November. On the other hand, the retail inflation rate in urban areas was 6.53 per cent in October, which has come down to 3.69 per cent in November. While the retail inflation rate in rural areas was 7.30 per cent in October, which has come down to 5.22 per cent in November. The inflation rate of greens and vegetables has come down to -8.08 percent. So the inflation rate of fruits has been 2.62 percent.
But the news of the biggest relief for the customers is that the retail inflation rate has come down below the upper level of RBI’s tolerance band of 6 percent. The RBI has fixed a tolerance band of 2 to 6 per cent inflation. But persistent retail inflation remained above the RBI’s tolerance band. In April, the retail inflation rate reached 7.79 per cent, after which, after five monetary policy meetings, the RBI increased the repo rate to control inflation. The repo rate has increased by 4 percent to 6.25 percent.