The Consumer Price Index (CPI) based retail inflation was 4.91 per cent in November 2021 and 4.59 per cent in December 2020.
Once growth recovers, inflation will become the focus. With domestic inflation risk on the upside, along with the overhang of global interest rates going up, domestic interest rates are likely to increase.
CPI Inflation continued to rise for the second consecutive month, reversing a three-months of ease which started in July.
"Stability in the retail prices of pulses has been achieved on account of pre-emptive and proactive measures taken by the government such as taking import of tur, urad and moong from 'restricted to free category' with effect from May 15, in order to ensure smooth and seamless imports," the Union Ministry of Consumer Affairs, Food and Public Distribution said in a release.
Retail Inflation was on an easing trajectory from July-September after being above the RBI-mandated threshold of 6 per cent owing to the disruption caused by the second wave of the COVID-19 pandemic.
This compares to a cooling-off to 5.3 per cent recorded in August this year. The calm in inflation figures came after several months wherein the inflation levels had breached the threshold 6 per cent mark mandated by the RBI.
RBI's September 2021 bulletin said inflation outcome for August 2021 "vindicated" the Monetary Policy Committee's suggestion for treating the May price shock as transitory
Consumer price inflation accelerated to 3.2 per cent in the 12 months through August from 2per cent the previous month, the Office for National Statistics said on Wednesday
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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