WPI inflation recorded at 1.89% for November
The annual rate of inflation based on the all-India wholesale price index (WPI) number is 1.89% (provisional) for the month of November, data released by the government said on Monday.
The annual rate of inflation based on the all-India wholesale price index (WPI) number is 1.89% (provisional) for the month of November, data released by the government said on Monday.
The slowing inflation marks a reversal of the increasing trend in the previous two months when the inflation rate touched 6.21 per cent in October.
India's retail inflation in November was recorded at 5.48%, compared to 6.21% in October, data from the Ministry of Statistics and Programme Implementation said.
The three-day Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting began on Wednesday, as the central bank seeks to balance fostering economic growth with managing inflation.
India's retail inflation jumped in October 6.21 per cent, a 14-month high, driven by elevated food inflation in a few vegetables.
Inflation in July dropped to the lowest point in the last three years in the US, according to data released on Wednesday, setting up a likely rate cut by the Federal Reserve next month.
India's July retail inflation rate of 3.54 per cent has reached a five-year low, signalling a positive shift for the economy. This decline, largely due to a decrease in food inflation and a favourable base effect, has exceeded expectations and brought relief to consumers and policymakers alike.
The inflation in food prices stood at 3.45% during the month, compared to 10.87% in June.
In an era marked by economic turbulence and fluctuating market sentiments, the Reserve Bank of India’s (RBI) decision to hold its key interest rate steady at 6.50 per cent for the ninth consecutive policy meeting speaks volumes about its strategic approach to monetary policy.
In June, South Africa's annual food inflation hit the lowest level in 45 months since September 2020, the data showed.
