Retail inflation declined to 4.59 per cent in December 2020 compared with 6.93 per cent in November last, government data showed on Tuesday.The data released by the Ministry of Statistics and Programme Implementation showed that the easing of .
India’s November retail inflation eases to 7%, food prices cool down
16 Dec 2020 Prices of vegetables and pulses jumped by 15.63 per cent and 17.91 per cent in November. Cheaper food prices lowered India’s sequential retail price inflation in November.
Sequentially, the Consumer Price Index (CPI), which gauges the retail price inflation, rose at a slower rate of 6.93 per cent in November from 7.61 per cent reported in October.
As per the data furnished by the National Statistical Office (NSO), CPI Urban rose to 6.73 per cent in November from 7.33 per cent in October, while CPI Rural increased to 7.20 per cent last month from 7.75 per cent in October.
Daily Rupee call: INR likely to face downward pressure
BL Research Bureau
While the rupee (INR) is trading within the price band 73.50 and 73.85, the local currency attempted to rally past the resistance at 73.50 last session. That is, it registered an intraday high of 73.47, but it gave up the gains and ended the session at 73.57. Thus, the consolidation range remains valid, and as long as the local currency continues to tread between these levels, the direction of the next swing in price will be uncertain.
If the rupee gains and moves upwards of 73.50, it can appreciate to 73.15. Subsequently, it can advance to 73. But if the local currency weakens, it can move towards 73.70. Below that level, it can test the lower limit of the range, i.e. 73.85.
November retail inflation eases to 7%, food prices cool down daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.
Inflationary woes: India s wholesale inflation rises to 1.55% in November
As per the data, the Consumer Food Price Index increased at a slower rate of 9.43 per cent in November from 11 per cent in October. The Food Index consisting of Food Articles from Primary Articles group and Food Product from Manufactured Products group have decreased from 159.3 in October 2020 to 158.9 in November 2020, . (Photo: Reuters)
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Cheaper food prices lowered India s sequential retail price inflation in November. Sequentially, the Consumer Price Index (CPI), which gauges the retail price inflation, rose at a slower rate of 6.93 per cent in November from 7.61 per cent reported in October.