India CPI Inflation Rate 2020: India’s retail inflation declined to 6.93 per cent in the month of November even though it remained above the Reserve Bank of India’s (RBI) upper margin of 6 per cent, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed. The retail inflation, which is measured by the Consumer Price Index (CPI), for the month of October was 7.61 per cent.
The government has mandated the central bank to keep retail inflation within the range of 4 per cent with a margin of 2 per cent on either side.
The RBI primarily factors in retail inflation while deciding its bi-monthly monetary policy. In its bi-monthly monetary policy meeting earlier this month, the central bank had kept its key interest rates unchanged and decided to maintain its accommodative stance.
The Consumer Food Price Index (CFPI) or the inflation in the food basket also eased on-month during November to 9.43 per cent, down from 11.00 per cent in October, the data revealed.
The growth in food inflation was due to a rise in egg prices which climbed 20.26 per cent on-year in November. Apart from eggs, the oils and fats segment saw a rise of 17.86 per cent while that pulses and products prices gained 17.91 per cent and meat and fish rose 16.67 per cent. Vegetables segment also witnessed a rise of 15.63 per cent.
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