India: Retail inflation in January spikes to a peak of 7.59%

India: Retail inflation in January spikes to a peak of 7.59%

India: Retail inflation in January spikes to a peak of 7.59%

In January 2020, retail inflation accelerated to 7.59 percent as prices of food continued to decline in the new year, government statistics on Wednesday shows.

The previous high was 8.33 percent in May 2014 as CPI-based inflation.

In December 2019, inflation centered on the Consumer Price Index (CPI) was 7.35 percent, while it was 5.54 percent in November 2019.

In rural communities, the CPI was 7.73 percent while in urban areas it was 7.39 percent.

The figures released there under the Ministry of Statistics and Program Implementation by the National Statistical Office shows that food inflation, calculated by the Consumer Food Price Index (CFPI), was 13.63 percent in January 2020 compared to -2.24 percent in Jan 2019.

Food inflation hit 14.12 percent in December 2019.

Costs of vegetables, pulses and meat and fish high in protein, state data demonstrates.

Inflation in veggies spikes to 50.19 percent, although it fell to 16.71 percent for pulses and goods. Between protein-rich products, meat and fish prices rose by 10.50 percent over the month, while egg prices rose by 10.41 percent over the year-ago era.

As per reports, the food and beverages group had an inflation print of 11.79 percent
.
Accommodation became more costly by 4.20 percent in January 2020, while inflation print was 3.66 percent for gasoline and electricity.

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