Inflation at lowest since 2017 |
Indian government`s data showed on Tuesday that Consumer inflation stood at a provisional 2.05 per cent in January, its lowest level recorded since June 2017. At 2.05 per cent, inflation in January was lower than economists` expectations. . Economists had on an average expected inflation at 2.48 per cent in January, according to a poll of 30 economists surveyed by news agency Reuters before the last RBI policy meeting. It is a sixth consecutive month in which inflation came in within the central bank`s medium-term target. Consumer inflation in December was revised downwards to 2.11 per cent from 2.19 per cent. The retail inflation declined to 2.05 per cent in January 2019, mainly on account of sliding prices of fruits, vegetables and fuel. The inflation based on the Consumer Price Index (CPI) was 2.11 per cent in December last year. According to the data released by the Ministry of Statistics and Programme Implementation, food inflation remained in the negative zone at 1.29 per cent compared to minus 2.51 percent in December. Consumer Food Price Index for January was in the negative zone at 2.17 per cent.
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