India's Retail Inflation Rises to 3.21% in February

MT Newswires Live03-13

India's retail inflation, measured by the Consumer Price Index (CPI), rose to 3.21% year-on-year in February compared with the revised 2.74% print in January, according to data released by the Ministry of Statistics and Programme Implementation on Thursday.

However, the inflation remains well below the Reserve Bank of India's medium-term target of 4%.

The latest numbers come under the new CPI series, which was introduced by the Indian government in January after revising the base year to 2024 from 2012 and expanding the basket of items tracked to 358 from 299 earlier.

Rural inflation was recorded at 3.37%%, while urban inflation stood at 3.02% for February. The figures are provisional.

Food inflation, measured by the Consumer Food Price Index, came in at 3.47% year-on-year in February from 2.13% recorded in January. Rural food inflation was 3.46%, while urban food inflation was 3.48%.

Housing inflation for February was provisionally at 2.12%, with rural housing inflation at 2.43% and urban at 2.00%.

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