Team Blitz India
NEW DELHI: Union Finance Minister Nirmala Sitharaman on December 11 said that retail inflation is now ‘stable’ and within the notified NEW inflation.
“After removing volatile food and fuel items from retail inflation, has been critical in weakening the inflationary pressure in the Indian economy,”Sitaraman informed the Lok Sabha in response to a question on retail inflation.
Retail inflation has declined from an average of 7.1% in April-October 2022 to 5.4% in the corresponding period of 2023, the minister said, adding that core inflation has declined from 5.1% in April 2023 to 4.3% in October 2023.
Consumer price index based inflation or retail inflation eased to 4.87% in October, which was a five month low, amidst easing of prices of some food items.
Sitharaman further said that after the notification of the inflation tolerance band in 2016, retail inflation in India has been mostly within acceptable limits.
“Temporary increases in inflation on a few occasions are caused by demand-supply mismatches arising out of global shocks and adverse weather conditions,” she said.
