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India’s retail inflation decelerated to 4.59% in December, from 6.93% in November.
Why is it in news?
- India’s retail inflation decelerated to 4.59% in December, from 6.93% in November.
Details:
- The Inflation dipped below 6% for the first time since March 2020 as food prices cooled.
- A nascent industrial recovery, which had begun in September, retreated in November as industrial output shrank 1.9%.
- The lowest consumer price inflation (CPI) print in 14 months was driven by an sharp slowdown in food price inflation.
- India’s index of industrial production (IIP) for November was dragged lower by mining and manufacturing.
- Core inflation too eased marginally to 5.5% in December.
About Retail Inflation:
- The Retail Inflationmeasures changes in the price level of a 'market basket' of consumer goods and services purchased by households.
- The headline inflation measure demonstrates overall inflation in the economy.
- Conversely, the core inflation measure strips the prices of highly volatile food and fuel components to distinguish the inflation signal from transitory noise.