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.
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.