Retail inflation is high

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According to the Consumer Price Index data released by the government on Monday, the retail inflation in ‘the oils and fat’s category stood at 18.7 percent in several other segments. 

Including fuel and light, clothing and footwear also transport and communication witnessed over 9 percent price rise on an annual basis has resulted.

With the rising prices of certain food items, retail inflation Soared to a seven-month high of 6.01 percent in January, breaching the upper tolerance level of the Reserve Bank.

The CPI inflation results show in December 2021 has been revised upwards to 5.66 percent from 5.59 percent.

In the year-ago month of January, 2021the retail inflation stood at 4.06 percent. The old result was 6.26 percent in June 2021.

As per the data is released by the National Statistical Office, the inflation in the food basket was 5.43 percent in January 2022 as against 4.05 percent is in the preceding month.

The rate of price rise in ‘cereals and products’ quickened to 3.39 percent during the month as against 2.62 percent in December.

Following that, the retail inflation in the ‘meat and fish’ category accelerated to 5.47 percent from 4.58 percent.

In vegetables, the inflation moved up to 5.19 percent against a deceleration of 2.99 percent in December. It is represented as the decline result.

Price rise of oil and fats softened included the month with an inflation print at 18.70 percent. The Segments of Fuel and light too witnessed a softening of inflation at 9.32 percent against 10.95 percent.

The Reserve Bank is which mainly factors in the CPI-based inflation, has been tasked by the government to keep the inflation at 4 percent, with a margin of 2 percent on either side.

Prices of cereals also eggs and milk products rose in January 2022 compared to December 2021 which led to a spike in retail inflation that is also measured on the consumer price index.

The released data by the ministry of statistics on Monday. Prices of spices, prepared meals, clothing, footwear, household goods, and education, health, and transport goods rose in January 2022 compared to December 2021.

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1 COMMENT

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