Retail inflation declined to 6.93% in November from 7.61% in October

NEW DELHI: Retail inflation in November fell to 6.93 percent a year ago, helped by lower food prices, government data showed Monday.
The figure stood at 7.61 percent in the previous month.
According to the CPI data, inflation in the food basket was 9.43 percent in November, down from 11 percent in the previous month.
“The CPI has partially eased, as we expected, due to a steady decline in food and beverage prices. But the 6.93% print is still very high and core inflation remains high at 5.57%,” said Rupa Rege Nitsure, chief economist. L&T Financial Holdings, Mumbai, told Reuters.
Meanwhile, in another set of data released by the Center, wholesale price-based inflation rose to a 9-month high of 1.55 percent in November on more expensive manufacturing, even as food prices cooled.
WPI inflation was 1.48 percent in October 2020 and 0.58 percent in November last year.
This is the highest level of inflation based on a wholesale index (WPI) since February, when it was 2.26 percent.
While food prices warmed in inflation in November, manufacturers witnessed a hardening of prices.
The Reserve Bank of India (RBI), which mainly takes into account retail inflation arriving at key policy rates, the government has ordered to keep inflation at 4% (+, – 2%).
The central bank maintained a status quo in the policy rate earlier this month due to high inflation.
(With agency inputs)

Source