New Delhi: Retail inflation increased in January. The retail inflation rate reached 6.52 percent in January. It has reached the highest level of 3 months. Earlier in December 2022, retail inflation had come down to the lowest level of one year at 5.72 percent. This has been revealed in the data released by the Ministry of Statistics and Program Implementation (MoSPI) on 13 February.
With this, inflation has once again gone above the satisfactory level of the Reserve Bank. This is beyond the upper limit of 6 percent of the Reserve Bank of India. Explain that while considering the monetary policy, RBI mainly looks at retail inflation. The central bank is entrusted with the responsibility of keeping inflation at 4 percent with a range of 2 percent.
The inflation rate in January 2022 was 6.01 percent
Consumer Price Index (CPI) based inflation was 5.72 percent in December and 6.01 percent in January 2022. Inflation in food articles stood at 5.94 percent in January, compared to 4.19 percent in December. Earlier, retail inflation was at a high level of 6.77 percent in the month of October.
Industrial production growth slows down to 4.3 percent in December
Significantly, the growth of the country’s industrial production has come down to 4.3 percent in December 2022. In November 2022, industrial production increased by 7.3 percent. This information was received from the official data released on Friday (February 10). However, if compared on an annual basis, the growth of industrial production has increased. In December 2021, industrial production increased by one percent.
