HOME > MARKETS > ECONOMY NEWS
  ECONOMY NEWS
ECONOMY
India’s retail inflation eases to four-month low of 5.09% in February
Mar-13-2024

Remaining within the Reserve Bank of India’s (RBI) comfort zone of 6 per cent for the sixth month in a row, India’s retail inflation eased to a four-month low of 5.09 per cent in February 2024. The inflation based on Consumer Price Index (CPI) was almost unchanged compared to the January number of 5.10 per cent, though prices of certain items in the food basket firmed up. The RBI has been tasked by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.

National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) in its data has showed that Rural CPI (General) in February 2024 stood at 5.34 per cent same as 5.34 per cent in January 2024. The Urban CPI (General) stood at 4.78 per cent in February as against 4.92 per cent in January. The index value for Rural, Urban and Combined CPI (General) stood at 187.4, 184.0 and 185.8 respectively, in February 2024. The price data are collected from selected 1114 urban Markets and 1181 villages covering all States/UTs through personal visits by field staff of Field Operations Division of NSO, MoSPI on a weekly roster. 

The food basked has nearly 50 per cent weight in the CPI. The inflation in the food basket rose marginally to 8.66 per cent in February from 8.30 per cent in the preceding month. Inflation in Vegetables was 30.25 per cent, Pulses and products 18.90 per cent, Fruits 4.83 per cent, Cereals and products 7.60 per cent, Spices 13.51 per cent. However, Oils and fats recorded negative inflation at 13.97 per cent.

  RELATED NEWS >>