Retail inflation rises to 4.91% in November 2021 from 4.48% in October, shows government data

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Retail inflation rose to 4.91 per cent in November 2021 due to higher fruits and vegetable prices

Retail inflation rose to 4.91 per cent in November 2021 from 4.48 per cent in October, government data showed on Monday. The price rise was mainly due to a significant jump in the prices of fruits and vegetables and other edible items like eggs, cereals and milk products.

Even food inflation rose to 1.87 per cent in November 2021 from 0.85 per cent recorded in October 2021.

Earlier, the consumer price index (CPI) based inflation had risen to 4.48 per cent in October 2021 from 4.35 per cent in September, and at that time too the rise was propelled by higher food and fuel prices.

Compared to November 2020 levels though, both retail and food inflation are significantly down as during the corresponding period of last year, the figures were 6.93 per cent and 9.50 per cent respectively.

Overall, apart from prices of fruits and vegetables, there was a noticeable rise in prices of clothing and footwear, household goods and services, recreation and amusement as well as education during November 2021.

The most significant rise was seen in the index of vegetables, which rose from 185.3 in October 2021 to 199.1 in November 2021, according to data released by the ministry of statistics and programme implementation.

However the retail inflation for November 2021 remained within the Reserve Bank of India’s (RBI) tolerance band of 2 per cent to 6 per cent for the fifth consecutive month.

The rise in CPI inflation was in sync with the expectations by many agencies, especially Reuters’ December 6-8 poll of 39 economists, whose forecast for November inflation data had been at 5.10 per cent, mainly due to rise in prices of fruits and vegetables.

Author: desi123

Desi123.com is an online news portal that aims to provide the latest trendy news for Asians living in Asia and around the World.

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