Retail inflation eased in November 2020, but vegetable prices rose.
According to the Ministry of Statistics, retail inflation is below 10 percent in all states of the country. In November 2020, the highest inflation rates were recorded in West Bengal and Andhra Pradesh. During the period, food inflation eased to 4.43 percent in November from 11 percent in October.
- Last updated:
December 1, 2020, 10:46 AM IST
Retail inflation is below 10 percent in all states
According to the ministry, retail inflation is below 10 percent in all states of the country. In November 2020, the highest inflation rates were recorded in West Bengal and Andhra Pradesh. Consider retail inflation as well when the Reserve Bank of India decides on monetary policy. In other words, the impact of retail inflation data in November can be seen in the decisions taken at the next review meeting of the RBI. Even after the boom in the economy, high retail inflation affects the income of the general public.
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Even after falling in November, retail inflation is still higher than the RBI target. The RBI has set an inflation target of 4 percent. It can be modified 2 percent more or less. Explain that in the last review meeting, there was no change in the RBI’s monetary policy due to high inflation. At the same time, in November 2020, the highest monthly inflation rate was recorded. Wholesale inflation rose to 1.55 percent in November from a year earlier. The prices of manufactured goods have increased significantly during this period.