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Monday, Sep 23, 2019

Retail inflation cools further to 2.05 % in January on easing food prices

The Reserve Bank of India, which reduced the key lending rate by 0.25 % last week, mainly factors in CPI-based inflation while arriving at its bi-monthly monetary policy.

business Updated: Feb 12, 2019 18:11 IST
Press Trust of India
Press Trust of India
New Delhi
A customer shops for pulses in a store at a local market in Hyderabad.
A customer shops for pulses in a store at a local market in Hyderabad.(Bloomberg)
         

Retail inflation declined marginally to 2.05 % in January over the previous month on continued decline in food prices, including vegetables and eggs, said government data Tuesday.

Retail inflation based on the Consumer Price Index (CPI) for December 2018 has also been revised downward to 2.11 % from the earlier estimate of 2.19 per cent. The inflation was 5.07 % in January 2018.

The data released by the Central Statistics Office further said the inflation in the ‘fuel and light’ category also fell to 2.2 % in January this year from 4.54 per cent in December 2018.

The Reserve Bank of India, which reduced the key lending rate by 0.25 % last week, mainly factors in CPI-based inflation while arriving at its bi-monthly monetary policy.

The central bank has revised downwards the retail inflation forecast to 2.8 % for the last quarter of the current fiscal on account of favourable factors including benign monsoon.

First Published: Feb 12, 2019 18:11 IST