What’s in the news?
- Retail inflation rose to 5.59 % in December, mainly due to an uptick in food prices.
- The Consumer Price Index (CPI) based retail inflation was 4.91 % in November 2021 and 4.59 % in December 2020.
- As per the data released by the National Statistical Office (NSO), food inflation rose to 4.05 % in December this fiscal compared to 1.87 % in the preceding month.
- The Reserve Bank, which mainly factors in the retail inflation while arriving at its bi-monthly monetary policy, expects the inflation print to be somewhat higher over the rest of the year as base effects turn adverse.