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<ul><li>The fall in <keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">retail inflation</keyword> in February is mainly due to reduction in prices of meat and fish, egg, vegetables, pulses, and sugar.</li><li>Prices of fruits, clothing and footwear, education, transportation, health and household went up.</li></ul>Retail inflation for February 2023 fell marginally to 6.44 per cent compared to 6.52 per cent in January 2023 as commodity prices witnessed a slight slide. Food inflation also slid to 5.95 per cent in February 2023 compared to 6 per cent in January. Consumer price index (CPI) based inflation had touched 6.52 per cent in January 2023, which was a three-month high owing to higher food prices. However retail inflation was 6.07 per cent in February 2022, and therefore CPI-based inflation in February 2023, at 6.44 per cent, was higher compared to the year-ago period. The marginal fall in retail inflation in February 2023 was mainly due to reduction in prices of meat and fish, egg, vegetables, pulses, and sugar. At the same time though, prices of fruits, clothing and footwear, education, transportation, health and household goods went up in February 2023 compared to January 2023.

Retail inflation sees marginal fall to 6.44% in February

<ul><li>India's <keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">retail inflation</keyword> in November, declined below 6%, which is in RBI's comfort zone.</li><li>India's retail inflation hit an an 11-month low in November. </li><li>The central bank had so far already hiked the key policy rate by 225 basis points since May, to 6.25%. </li></ul>New Delhi [India], December 12 (ANI): India's retail inflation rate based on Consumer Price Index declined to 5.88 per cent in November from 6.77 per cent during the previous month, according to data released on Monday by the ministry of statistics. This essentially means retail inflation in India is now at an 11-month low and it declined below 6 per cent, which is in RBI's comfort zone. The central bank had so far already hiked the key policy rate by 225 basis points since May to 6.25 per cent to cool off domestic retail inflation that has stayed above the RBI's upper tolerance limit for over three quarters now. Under the flexible inflation targeting framework introduced in 2016, the RBI is deemed to have failed in managing price rises if the CPI-based inflation is outside the 2-6 per cent range for three quarters in a row. An out-of-turn meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India was held in early November to discuss and draft the report to be sent to the central government for having failed in maintaining the inflation mandate. The meeting was called under Section 45ZN of the Reserve Bank of India (RBI) Act 1934, which pertains to steps to be taken if the central bank fails to meet its inflation-targeting mandate. Further details about the special meeting are not officially in the public domain.

India's November retail inflation at 5.88%, within RBI's comfort band

<keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">Retail inflation</keyword> fell to an 18-month low of 4.7 per cent in April mainly due to cooling food prices, government data showed on Friday. It was for the second month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 5.66 per cent in March 2023 and 7.79 per cent in the year-ago period. Retail inflation in April is the lowest since October 2021 when it was at 4.48 per cent. According to the National Statistical Office, the inflation in the food basket was 3.84 per cent in April, as against 4.79 per cent in March and 8.31 per cent in the year-ago period. Retail inflation rose from 5.7 per cent in December 2022 to 6.4 per cent in February 2023 on the back of higher prices of cereals, milk and fruits and slower deflation in vegetable prices. Reserve Bank of India has projected the CPI inflation at 5.2 per cent for FY2023-24, with 5.1 per cent in Q1, 5.4 per cent in Q2, 5.4 per cent in Q3, and 5.2 per cent in Q4, and risks evenly balanced. <keyword id="35052" type="General" weightage="20" keywordseo="industrial-production" source="Orion">Industrial production</keyword> rises 1.1 pc in March, 5.1 pc in 2022-23 fiscal India's industrial production rose 1.1 per cent in March, according to official data released on Friday. Factory output measured in terms of the Index of Industrial Production (IIP) grew 2.2 per cent in March 2022. The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output increased 0.5 per cent in March 2023. Mining output rose 6.8 per cent during the month under review. Power output declined by 1.6 in March. The IIP grew 5.1 per cent in 2022-23 as against a growth of 11.4 per cent in 2021-22.

Retail inflation declines to 18-month low of 4.7% in March; Industrial production rises 1.1%

<ul><li>The fall in retail inflation has been due to the quick drop in vegetable prices .</li><li>Cereals and milk inflation, the top two contributors to food inflation, are still elevated and on an upward trend.</li><li>The Central Banks' decision to go for another rate hike in the February meeting will be a close call.</li></ul> With core inflation continuing to be high, credit rating agencies like Acuite Ratings &amp; Research and <keyword id="6431877" type="General" weightage="80" keywordseo="care-ratings" source="Orion">CARE Ratings</keyword> do not expect any significant downtrend in the retail inflation for the next few months. "It is a pleasant surprise to see the headline CPI inflation print at 5.88 per cent in Nov-22 from 6.77 per cent in Oct-22 since most market participants estimated it to be above 6.0 per cent. This is an eleven-month low figure and is clearly driven by the faster-than-expected decline in food inflation which stood at 5.1 per cent in the previous month," Suman <keyword id="41544" type="General" weightage="80" keywordseo="chowdhury" source="Orion">Chowdhury</keyword>, Chief Analytical Officer said. According to Chowdhury, the fall in retail inflation has been due to the quick drop in vegetable prices which is a seasonal phenomenon apart from the continuing softness in edible oil prices. "Nevertheless, the core inflation figure remains high for <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>'s comfort and has in fact moved up further to 6.29 per cent in Nov-22 from 6.23 per cent in Oct-22; on an MoM basis, the core inflation went up by 0.43 per cent, highlighting the embedded nature of the current inflationary environment," Chowdhury said. The moderately healthy, if not strong, momentum in domestic demand is leading to the holding up of the core inflation. Also, the base factor was relatively an advantage for the Nov-22 print which may not be the case for Dec-22. Therefore, we don't expect any significant trend downward for the CPI inflation for the next few months, Chowdhury said. "Given the core inflation trajectory, we continue to forecast an average figure of 6.7 per cent for CPI inflation in FY23. We also continue to expect another round of modest hike in Feb-23 which will take the terminal rate to 6.5 per cent or higher," Chowdhury said. According to CARE Ratings, though the inflationary pressures are on a declining trend, the war against inflation is still not over. The moderation in food inflation is comforting, but it is mostly led by vegetables which are susceptible to weather fluctuations. Cereals and milk inflation, the top two contributors to food inflation, are still elevated and on an upward trend, CARE Ratings said. In this context, better <keyword id="6384972" type="General" weightage="50" keywordseo="rabi" source="Orion">Rabi</keyword> acreage in the current season is a comforting factor. The strengthening of services inflation has led to sticky core price pressures despite easing of goods inflation. Taking cue from the recent data, the RBI will remain cautious to prevent inflationary expectations from spiralling upwards. However, with disappointing data from the <keyword id="6362048" type="General" weightage="50" keywordseo="manufacturing" source="Orion">Manufacturing</keyword> sector, the Central Banks' decision to go for another rate hike in the February meeting will be a close call. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-declines-20-paise-to-82-71-against-us-dollar-in-early-trade/articleshow/96188516.cms">Rupee declines 20 paise to 82.71 against US dollar in early trade</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/online-education-company-and-unicorn-pluralsight-lays-off-400-employees/articleshow/96187396.cms">Online education company and unicorn Pluralsight lays off 400 employees</a>

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Retail inflation sees marginal fall to 6.44% in February

IANS

India's November retail inflation at 5.88%, within RBI's comfort band

ANI

Retail inflation declines to 18-month low of 4.7% in March; Industrial production rises 1.1%

PTI

November retail inflation may be down, but the war against inflation is on say experts

IANS

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