India’s retail inflation slowed to 5.1 per cent in January this year from 5.69 per cent in December 2023, bringing some relief to household budgets, according to official figures released on Monday.
Food inflation, which accounts for close to half of the overall consumer price index (CPI), fell to 8.3 per cent in January from 9.05 per cent in December. However, the prices of vegetables, pulses and spices registered a double-digit growth during the month, though there was some consolation as cooking oil prices continued to decline during the month.
The data show that vegetables prices shot up by as much as 27.03 per cent, which was lower than the 31.34 per cent during December. There was no relief as far as pulses are concerned as they turned costlier by 19.54 per cent, while spices were dearer by 16.36 per cent. The prices of cereals went up by 7.83 per cent in January as against 9.53 per cent in December.
The consumer price inflation is now above the 4 per cent midpoint of the RBI’s 2-6 per cent target range and is the main reason why the RBI is not going for a cut in interest rates to spur economic growth.
The central bank is keen to keep inflation under control to ensure stability and has held the repo rate steady at 6.5 per cent for six consecutive times in-a-row in its bi-monthly monetary policy reviews.
Early April critical for investors’ sentiment amid key economic data: Report
Early April will be critical for market sentiment, with key economic data releases providing insights into global manufacturing, employment trends and economic activity, a report showed on Monday.
Foreign investors pump Rs 31,000 crore into Indian stocks as market rebounds
Foreign investors have injected nearly Rs 31,000 crore into Indian equity markets in the last six trading sessions of March, according to the latest depository data.
Indian stock market opens flat, Sensex above 78,000
The domestic benchmark indices opened flat on Wednesday amid positive global cues, as buying was seen in the realty sector in the early trade.
Stock market closes in green amid volatile trade, Sensex ends above 78,000
The Indian stock market on Tuesday managed to stay in the green for the seventh straight session, though it gave up most of its early gains during volatile trade.
Samsung says mulling legal options after India raises over Rs 5,000 crore in tax demand
Samsung’s network division, which imports telecom equipment, had allegedly been under scrutiny for "misclassifying critical transmission components used in mobile towers"