NEW DELHI: Retail inflation in November it fell to 6.93 percent from a year earlier, helped by a smaller rise in food prices, government data showed Monday.
The figure stood at 7.61 percent in the previous month.
According to CPI data, inflation in the food basket was 9.43 percent in November, compared to 11 percent the previous month.
“The CPI has partially moderated, as we expected, due to a sequential easing of the prices of food and beverages. But the 6.93% figure is still very high and core inflation remains high at 5.57%” , Rupa Rege Nitsure, chief economist, L&T Financial Holdings, Mumbai, told Reuters news agency.
Meanwhile, in another dataset released by the Center, inflation based on wholesale prices rose to a nine-month high of 1.55 percent in November on more expensive manufactured items, even as food prices they got cold.
The IPM inflation was 1.48% in October 2020 and 0.58% in November of last year.
This is the highest level of inflation based on the wholesale price index (WPI) since February, when it was 2.26%.
While food items saw inflation moderation in November, manufactured items witnessed a tightening of prices.
The Reserve Bank of India (RBI), which mainly takes into account retail inflation While reaching key policy rates, the government has ordered inflation to remain at 4% (+, – 2%).
The central bank had maintained the status quo on the policy rate earlier this month due to high inflation.
(With inputs from agencies)
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