Retail inflation declined to 5.48% in November

Delhi Delhi. According to government data released on Thursday, retail inflation declined to 5.48 per cent in November, as against 6.21 per cent in October. This was mainly due to softening of prices of food items, especially vegetables. According to Consumer Price Index (CPI) data released by the National Statistical Office (NSO), food inflation declined to 9.04 per cent in November. It was 10.87 per cent in October and 8.7 per cent in November 2023.

The NSO said, “During November 2024, inflation has declined significantly in vegetables, pulses and products, sugar and confectionery, fruits, eggs, milk and products, spices, transport and communication and personal care and effects sub-groups.” CPI-based headline inflation rose from an average of 3.6 per cent during July-August to 5.5 per cent in September and 6.2 per cent in October 2024, the highest in more than a year since September 2023. Last week, the Reserve Bank raised its inflation forecast for the current fiscal year to 4.8 per cent from 4.5 per cent. It also said headline inflation is likely to remain elevated in the December quarter due to pressure on food prices.