Retail inflation inches up marginally to 5.69 % in December 2023

Retail inflation, based on the Consumer Price Index (CPI), inched up marginally to 5.69 percent in December 2023 mainly on account of higher food prices but stayed within the Reserve Bank of India's target range for a fourth consecutive month.

 

Retail Inflation was at 5.55 percent in November 2023 and 5.72 percent in December 2022.

 

As per the data released by the National



Statistical Office (NSO), retail inflation in the food basket was at 9.53 percent in December 2023, up from 8.7 per cent in the preceding month and 4.9 percent in the same month preceding year. 

 

The Reserve Bank of India has been tasked by the government to ensure retail inflation remains at 4 percent with a margin of 2 percent on either side.