India Retail Inflation Hits 4-Month High in December

New Delhi, Jan 12 (PTI) Retail inflation inched up marginally to a 4-month high of 5.69 per cent in December 2023, mainly on account of higher food prices, according to official data released on Friday.

The inflation based on Consumer Price Index (CPI) was at 5.55 per cent in November 2023 and 5.72 per cent in December 2022.

In August 2023, inflation touched a high of 6.83 per cent.

As per the data released by the National Statistical Office (NSO), retail inflation in the food basket was at 9.53 per cent in December 2023, up from 8.7 per cent in the preceding month and 4.9 per cent in the year-ago month.

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