Retail inflation eases to 6.44 pct in India-Xinhua

Retail inflation eases to 6.44 pct in India

Source: Xinhua| 2023-03-13 23:15:45|Editor: huaxia

NEW DELHI, March 13 (Xinhua) -- The rate of retail inflation in India slightly eased to 6.44 percent in February from 6.52 percent in January, showed the official data released by the federal Ministry of Statistics and Program Implementation on Monday.

The slight fall in the rate of retail inflation is attributed mainly to a decline in the rate of rise in prices of essential commodities like clothing, footwear and eggs, among others.

"Growth in eggs prices eased to 4.32 percent in February against 8.78 percent in the previous month. Clothing and footwear inflation was at 8.79 percent, compared with 9.08 percent a month ago," said the data.

It further added that cereal prices rose 16.73 percent in February, against a 16.12 percent rise in January. And, the rate of inflation in milk and milk products came in at 9.65 percent, compared to 8.79 percent in January.

Fuel and light inflation stood at 9.9 percent in January against 10.84 percent in January.

The main cause of concern has been that the rate of retail inflation in the country has been above the tolerable goal of 6 percent set by the country's central bank, the Reserve Bank of India.

Meanwhile, prices of some vegetables, particularly brinjals and lemons, have witnessed a steep hike in recent days, mainly because of a shortage in supplies from the fields.

"This shortage in supplies of vegetables will continue for the next few weeks, before supplies of summer vegetables begin," said a vegetable trader in New Delhi.

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