Retail inflation depending on customer price index (CPI) increased to 5.59 percent in December, according to official figures issued on Wednesday. In November, the rate of inflation was 4.91 percent.
Food costs, which account for roughly half of the CPI, increased 4.05 percent every year in December, compared to 1.87 percent the previous month. Prices for edible oil increased by approximately one-fourth year on year. As per the numbers, commercial oil prices grew 10.95 percent each year in December, in comparison to 13.35 percent the prior month.
According to three experts, annual core inflation, eliminating volatile food and energy costs, was predicted to be around 6 percent and 6.01 percent in December, up from 6.08 percent to 6.2 percent the previous month. Furthermore, prices for fuel and light, textiles and apparel, grains, dairy products, oils, and fats increased in December. When determining its bi-monthly policy, the Reserve Bank of India (RBI) primarily considers retail inflation.
