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Retail inflation drops to 4.59 pc in December 2020

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Retail inflation fell sharply to 4.59 per cent in December, mainly due to declining food prices, government data showed on Tuesday. Retail inflation based on the Consumer Price Index (CPI) was 6.93 per cent in November.

Food inflation declined to 3.41 per cent in December in 2020, compared to 9.5 per cent in the previous month, according to the data released by the Ministry of Statistics and Programme Implementation.

The Reserve Bank of India (RBI) factors in retail inflation while arriving at its monetary policy.

Bird flu has also not brought down retail inflation. Following the outbreak of bird flu in more than 10 states the wholesale price of eggs has been falling for the past few days. However, the falling price is not benefiting end customers as the retail price is still high.

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