Retail inflation inched up to 7.59% in January on costlier food items, government data showed on Wednesday. The Consumer Price Index-based retail inflation was 7.35% in December 2019 and 1.97% in January last year. This is the fourth straight month when retail inflation figure exceeded the Reserve Bank of India’s medium-term target of 4%. Source

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Retail inflation likely rose to a near 6-year peak in January as food prices stayed high, according to a small majority of economists in a Reuters poll, which may persuade the RBI to keep interest rates on hold in the coming months. The consensus of more than 40 economists showed India’s annual consumer price inflation

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The monetary policy committee (MPC) noted that inflation has surged above the upper tolerance band around the target in December 2019, primarily on the back of the unusual spike in onion prices. Over the coming weeks and months, onion prices are likely to ebb as supply conditions improve. Source link