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Retail Inflation Inches To 4.91% In November 2021

Consumer Price Index (CPI) which measures India’s retail inflation hardened to 4.91% in November 2021 compared to 4.48% seen in October, owing to rising food prices.

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 Retail inflation rose marginally to 4.91 per cent in November, mainly due to an uptick in food prices, government data showed on Monday.
The Consumer Price Index (CPI) based retail inflation was 4.48 per cent in October 2021 and 6.93 per cent in November 2020.
 As per the data released by the National Statistical Office (NSO), food inflation was at 1.87 per cent in November this year compared to 0.85 per cent in the preceding month.

"The CPI inflation for the month of November 2021 has been stoked by an increase in prices of vegetables in November 2021, with an inflation rate of around 7.4 per cent. Shortages of supply of vegetables escalated the prices, however, the recent weeks of December have observed stability in vegetable prices which are expected to subside in coming weeks with fresh harvest hitting the market from January 2022. We expect inflation to prevail in target trajectory of RBI in the next few months," said Pradeep Multani, President, PHD Chamber of Commerce and Industry

 The Reserve Bank, which mainly factors in the retail inflation while arriving at its bi-monthly monetary policy, expects the inflation print to be somewhat higher over the rest of the year as base effects turn adverse.
  According to the RBI, it is expected that headline inflation will peak in the fourth quarter of the current fiscal and soften thereafter.

(With Inputs From PTI)