According to official data released on Thursday, retail inflation dropped to a one-year low of 5.72 percent in December 2022, primarily as a result of falling food prices.
Retail inflation measured using the Consumer Price Index (CPI) was 5.88% in November 2022 and 5.66% in December 2021. According to National Statistical Office (NSO) data, food basket inflation was 4.19 percent in December as opposed to 4.67 percent in November.
Retail inflation dropped to 5.88 percent in November and then further in December to reach 5.72 percent, which is the lowest level in a year, after having exceeded the Reserve Bank of India’s upper tolerance threshold of 6 percent since January 2022.