New Delhi: After two months, retail inflation in India jumped sharply in January.
Data released by National Statistical Office (NSO) on Monday showed consumer price-based inflation rose to 6.52% in January – beyond Reserve Bank of India’s tolerance level of 6%.
After being above 6% for the first 10 months of 2022, retail inflation had fallen for two consecutive months, thanks to a sharp decline in vegetable prices.
Experts had predicted retail inflation will rebound marginally in January, but it’s actually registered a sharper rise than expected. The spike in inflation was triggered by food items, with the rate shooting up to 5.94% from 4.19% in December.
A sharper rise in inflation could be a worrisome indicator for the Indian economy as it would not only hurt the vast middle class population, but also hinder demand growth. Moreover, it will also have a direct impact on key interest rates as the central bank will be forced to tighten monetary policy further in April.
The latest inflation figures could have an impact on key interest rates, prompting the Reserve Bank of India (RBI) to tighten monetary policy in April and rethink key interest rates.
Bhubaneswar: The Odisha Human Rights Commission (OHRC) has sent notices to Secretaries of Food &…
New Delhi: Even as his recently-released horror comedy ‘Bhool Bhulaiyaa 3’ continues to mint money…
New Delhi/Bhubaneswar: After over 20 days of investigation and analysing more than 700 CCTV cameras,…
New Delhi: The Delhi High Court has closed proceedings on a petition challenging the Rajiv…
Mumbai: ‘12th Fail’ actor Vikrant Massey recently got trolled after pictures of him touching his…
Mumbai: Mumbai Police swung into action immediately after Bollywood superstar Shah Rukh Khan received a…
Dubai: The effects of global climate change are being seen in various manifestations across the globe.…
Mumbai: When criminals are idolised and used for commercial purposes, police are bound to take action.…