Brief by Shorts91 Newsdesk / 01:03pm on 12 Dec 2023,Tuesday Business
India's retail inflation rose to 5.55% in November from 4.87% in October, official data showed. While lower than economist estimates of 5.8%, inflation has now spent 50 straight months above the RBI's 4% medium-term target. A low base from November 2021, when prices had fallen 0.1% month-on-month, coupled with higher food prices drove the uptick. The sequential rise in Consumer Food Price Index at 1.1% outpaced the broader Consumer Price Index's 0.5% rise, underscoring the pressure from food items. Despite staying within the 2-6% tolerance band for three months, persistent above-target inflation remains a policy concern.
