Retail Inflation Rate: Due to the sharp increase in the cost of rice, dal, and vegetables, this is the greatest rate of retail inflation in the previous four months.
According to the report, at 5.69 percent, the retail inflation rate is at its highest level in the previous four months. According to official data, the consumer goods index increased as a result of rising costs for spices, lentils, and vegetables.
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New Delhi: There have been instances where the cost of eggs, lentils, and rice has all gone up. The cost of onions has also drawn attention. What did not go up in price? Fruits, vegetables, spices, and pulses. And that directly affects the retail market's inflation rate. The nation's retail price inflation index hit 5.55 percent in November. Additionally, the latest numbers exceeded that index this time around. The National Statistical Office (NSO) data indicates that, at 5.69 percent, the retail inflation rate is the highest it has been in the previous four months. According to official data, the consumer goods index increased as a result of rising costs for spices, lentils, and vegetables. From 5.85 percent in November to 5.93 percent in December, rural retail inflation increased. In December, urban inflation was 5.46 percent, compared to 5.26 percent in November.
The country's inflation rate was intended to be fixed at 4 percent by the Reserve Bank. However, the nation's retail price inflation index hit 5.55 percent in November. As of right now, it is evident that the retail market's inflation rate is progressively rising. November of last year, or two months ago, saw a retail inflation rate of 5.55 percent. In October, the rate of inflation was 4.87 percent.
The Index of Industrial Production, or IIP, shows the lowest rate of growth in the industry in the previous eight months. The industry's growth rate dropped to 2.4% as of last month.
There's little doubt that this inflation will put pressure on the government before the Lok Sabha elections. upcoming Lok Sabha polls This inflation rate can puncture the throat like a thorn before then. The administration wants to reduce this inflation rate in anticipation of the 2024 Lok Sabha elections.
