India’s Retail Inflation Eases to 5.09% in February 2024

India’s Retail Inflation Eases to 5.09% in February 2024 mind map
Recent News
February 2024
CPI inflation at 5.09%
Decrease in cooking oil prices
Dropped by 11.67%
Decrease in price increase rate for spices
Slowed down to 13.28% from 16.36%
India's retail inflation
Eased to a four-month low of 5.09%
Pulses turned costlier
By 20.47%
Cereals price increase
By 7.83%
Vegetable prices increase
By as much as 31.38% in January
Core inflation comforting
Eased to 3.3%
Ministry of Statistics & Programme Implementation
Released data
Reserve Bank of India (RBI)
Maintained repo rate at 6.5%
Data collection
From 1114 urban markets
From 1181 villages
Price data collection
Through personal visits by NSO field staff
Potential easing of financial burdens for consumers
Signaling relief to household budgets
No relief in pulses and cereals prices
Vegetable prices shot up significantly
Way Forward
RBI's approach to upcoming April 2024 monetary policy
Focused on maintaining inflation within target range

India’s retail inflation for February 2024 showed a slight easing to 5.09%, marking a four-month low. This minor adjustment from January’s 5.10% suggests a nuanced change in the economic landscape, influenced by factors such as a significant decrease in cooking oil prices and a slight reduction in the rate of price increase for spices. Despite this, the cost for essentials like pulses and cereals continued to rise, highlighting ongoing challenges in managing the cost of living. Core inflation has shown some comforting signs of easing, which might hint at future economic policy directions as the Reserve Bank of India continues to aim for inflation control within its target range. This period also reflected changes in consumer price indexes across rural and urban regions, indicating nuanced impacts across different demographics​​​​​​​​​​.

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