Inflation of food items was 6. 02 percent.
A good news related to inflation has come. Retail inflation declined from 5.22 percent of December to 4.31 percent in January. According to PTI news, the latest figures have been released by the government on Wednesday. According to the official data released on Wednesday, the Consumer Price Index (CPI) -based retail inflation was 5. 22 percent in December and 5. 1 percent in January 2024. Inflation of food items was 6. 02 percent, which is 8.39 percent in December and 8.3 percent in the same month ago.
This target is about retail inflation
According to the news, the Reserve Bank of India (RBI) has been asked to ensure that retail inflation remains at 4 percent with a margin of 2 percent. According to the data, rural inflation declined to 4.64 percent in January as compared to 5.76 percent in December, while urban inflation declined to 3.87 percent compared to 4.58 percent in the previous month. In the budget presented on February 1, the government has also announced a comprehensive cut in income tax to increase consumption, in which income of up to Rs 12 lakh (in new tax regime) has been made tax free.
The way for cheap debt will be easy!
The decline in retail inflation in January has increased the possibility of another deduction in policy rate by RBI, which reduced its major policy rate for the first time in February to 6.25% by cutting 25 basis points. Its purpose was to promote the economy, which is expected to grow the fastest in four years. Let us tell you, India’s retail inflation reached 14 months top level 6.2% in October. During this period, the food inflation had reached the 15 -month high of 10.9%.
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