New Delhi, December 12
The retail inflation rate has come down to 5.48 per cent in November after the decline in food prices in the country, which has now come within the Reserve Bank’s target range. The decline comes after the central bank’s rate-setting panel meeting under new governor Sanjay Malhotra decided to cut rates.
It may be mentioned that the Consumer Price Index (CPI) inflation rate was 6.21 percent in October and it was 5.55 percent in November last year. The main reason for this is the decline in the prices of vegetables, pulses, products, sugar and sweets and fruits during November this year.