Retail Inflation New Delhi/IBNS: India’s retail inflation rate increased to 4.48 percent in the month of October 2021, data released by the Ministry of Statistics and Programme Implementation (MoSPI) revealed on November 12.
The retail inflation rate is measured by the Consumer Price Index (CPI).
The marginal rise in retail inflation during October was caused by the rise in food prices, the government data showed.
In October 2020, the CPI-based inflation was 7.61 percent while it was 4.35 percent in September 2021.
The CPI has been below the Reserve Bank's six percent margin for four consecutive months.
The Centre has told RBI to keep the retail inflation rate at four percent with an upper and lower margin of two percent on either side for five years, till March 2026.
The RBI had projected CPI inflation at 5.3 percent for 2021-22.
The central bank projected that it would be 5.1 percent in the second quarter, 4.5 percent in third, 5.8 percent in the last quarter of the fiscal, with risks broadly balanced.
The retail inflation during the April-June period of 2022-23 is projected at 5.2 percent.
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