Inflation Rate News / Retail inflation declined in India, know how much the public will benefit?

Inflation Rate News: A good news has come for the general public of India. The public, who is facing the brunt of inflation, is now going to get relief, because this time a reduction has been registered in the retail inflation in the country. Retail inflation came down to 6.77 per cent in October due to lower prices of food items. However, it still remains above the satisfactory level of the Reserve Bank of India (RBI).

Retail inflation was 7.41% in the last month

According to government data released on Friday, retail inflation stood at 7.41 per cent in the previous month. Retail inflation based on the Consumer Price Index (CPI) has remained above the tolerable limit of six per cent since January this year. The government has entrusted the central bank with the responsibility of keeping the retail inflation below 2 per cent and in the range of 4 per cent.

Wholesale inflation figures have been released today

According to the latest data from the National Statistical Office (NSO), the inflation rate in food articles stood at 7.01 per cent in October as against 8.6 per cent in September. RBI mainly looks at retail inflation while deciding on monetary policy. Wholesale inflation figures have also been released on Monday itself. According to this, inflation based on the Wholesale Price Index declined to a 19-month low of 8.39 per cent in October due to lower prices of food, fuel and manufactured products.

General public can get benefit

Some experts say that the low retail inflation rate has a direct effect on the general public. Due to this, the things needed for oil, pulses and deli start getting cheaper. Which reduces the burden on the pocket of the general public. This is considered a good sign for the economy of any country.