look news india
According to data released by the government, retail inflation fell to 5.09 percent in February, which is a four-month low. Retail inflation remains below the RBI's comfort zone of 6 per cent for the sixth consecutive month.
It is noteworthy that retail inflation based on Consumer Price Index (CPI) was 5.1 percent in January. According to the statement issued by the National Statistical Office (NSO), the food inflation rate in February has been recorded at 8.66 percent as against 8.3 percent.
According to NSO, retail inflation has been higher in rural areas than in urban areas. The average inflation in urban areas was recorded at 4.78 percent while the average inflation in rural areas was recorded at 5.34 percent.
In terms of states, Odisha recorded the highest inflation at 7.55 per cent in February, while Delhi recorded the lowest at 2.42 per cent.
Let us tell you that last month, the Reserve Bank of India (RBI) had estimated the retail inflation rate to be 5.4 percent in the current financial year 2023-24 and 5 percent in the January-March quarter.
On the other hand, industrial production figures for January were also announced today. According to official data, industrial production fell by 3.8 percent in January due to weak performance of manufacturing, mining and power sectors.
It is noteworthy that based on the Index of Industrial Production (IIP), industrial production was recorded at 5.8 percent in January, 2023, 4.2 percent in December, 2023 and 2.4 percent in November, 2023.
