March 29, 2024 16:19 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi to kickstart BJP's Lok Sabha poll campaign from Meerut | Kangana Ranaut in Mandi: 'Don't think I am a heroine, consider me as your sister and daughter' | Mayawati, Akhilesh Yadav demand high-level probe into Mukhtar Ansari's death | PM Modi has mastered art of manipulating democracy, hurting Constitution: Mallikarjun Kharge | Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63
India's retail inflation falls to 2.19% in December

India's retail inflation falls to 2.19% in December

India Blooms News Service | @indiablooms | 14 Jan 2019, 12:42 pm

New Delhi, Jan 14 (IBNS): India's retail inflation touched 2.19% in December 2018, official data released on Monday said.

The figures showed it slowed down to touch a 19-month-low point.

It even stood at 2.33% a month ago.

Wholesale inflation eased to 3.80% (provisional) in December from 4.64% in the previous month, recording eight month low, the government said on Monday.

In the corresponding month of the previous year, the wholesale inflation was 3.58%.

The decline in wholesale inflation was attributed to a smaller increase in food and fuel prices.

Build up inflation rate in the financial year so far was 3.27% compared to a build up rate of 2.21%  in the corresponding period of the previous year.

Food inflation stood at - or the rate of increase in food prices - was at 0.07% last month, as against a food deflation of 1.96% in November 2018, the Ministry of Commerce and Industry said in a statement. Deflation - or negative inflation - determines the rate of decrease in prices.

Inflation in the 'fuel and power' category, which has a weightage of 13.2% on the Wholesale Price Index, nearly halved to 8.38% in December from 16.28% in the previous month. Inflation in petrol, diesel and LPG (liquefied petroleum gas) stood 1.57%, 8.61% and 6.87% respectively.

The government will release consumer inflation data later in the day. The Reserve Bank of India (RBI) mainly takes into account retail inflation data while formulating its monetary policy.


 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.