New Delhi: After showing a declining trend in December 2022, when it had dropped to 5.72 per cent, retail inflation rose to a three-month high of 6.52 per cent in January 2023 due to a rise in food prices.
Food inflation to rise to 5.94 per cent in January 2023 from 4.19 per cent in December 2022.
With this, Consumer Price Index (CPI) based retail inflation has again crossed the RBI’s tolerance level of 6 per cent.
Retail inflation for January 2023 is also higher than the January 2022 level of 6.01 per cent.
Retail inflation rose in January 2023 as a result of higher prices of cereals, eggs and meat as well as fish, milk and fruits as well as clothing, footwear, housing, health and transport.