Retail inflation falls slightly in February to 6.44% from 6.52% in January
Retail inflation is expected to be 6.5 percent in 2022-23, with 5.7 percent in the January-December quarter.
According to government data released on Monday, retail inflation fell marginally to 6.44 percent in February, owing primarily to a slight decrease in food and fuel prices.
The Consumer Price Index (CPI) inflation rate was 6.52 percent in January and 6.07 percent in February 2022.
In February, the food basket inflation rate was 5.95 percent, down from 6 percent in January.
Retail inflation has remained above the RBI’s upper tolerance level of 6% since January 2022, with the exception of November and December 2022.
Retail inflation is expected to be 6.5 percent in 2022-23, with 5.7 percent in the January-December quarter.
The government has mandated the central bank to maintain retail inflation at 4% with a 2% margin of error on either side.
To keep rising prices in check, the RBI has raised interest rates by 250 basis points since May of last year. The most recent rate increase, of 25 basis points in February, raised the benchmark policy rate to 6.50 percent.
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