Retail Inflation Climbs to 4.91% in November: Government

As per government data released on Monday, 13 December India's retail inflation inched up to 4.91 percent in November compared to 4.48 percent recorded in October. Image used for representative purposes. 

(File Photo: PTI)

As per Ministry of Statistics data released on Monday, 13 December, India's retail inflation inched up to 4.91 percent in November, compared to 4.48 percent recorded in October.

The rise in Consumer Price Index-based inflation is in light of the mounting prices of fruits and vegetables, as well as the rise in prices of other food items like eggs, cereals, and milk products.

In October, retail inflation had risen by over 0.10 percent from 4.35 percent in September.

The government has tasked the Reserve Bank of India (RBI) to maintain the CPI at 4 percent, with a tolerance band of 2 percent on either side, PTI reported.

Last week, the Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) voted to maintain status quo on policy rates and policy stance, with RBI Governor Shaktikanta Das announcing, "Stance will remain accommodative to revive and sustain growth on a durable basis."

In contrast with November 2020 levels, retail inflation was significantly lower, with previous figure being 6.93 percent.