India’s headline retail inflation surged to a four-month high of 5.69% in December, disclosed by the Ministry of Statistics and Programme Implementation on January 12. Despite exceeding November’s 5.55%, it fell short of economists’ 5.9% prediction. The Consumer Price Index (CPI) showcased a month-on-month decrease of 0.3%.
Food Inflation: 9.53% (-0.9% MoM)
Other Sectors:
While retail inflation has persisted above the Reserve Bank of India’s 4% target for 51 consecutive months, it fell below expectations for the second consecutive month. An unfavorable base effect was the primary driver, though the month-on-month change in prices weakened. Core inflation, excluding food and fuel, dipped to 3.9%. The lower-than-expected December figures provide relief to policymakers ahead of the interim budget and the Monetary Policy Committee’s decision in February, maintaining the 6.5% policy repo rate for the past five meetings.
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