New Delhi, Feb 12: Official data issued on Monday showed that retail inflation declined to a three-month low of 5.1% in January, primarily due to decreasing food prices. According to the Consumer Price Index (CPI), the rate of inflation was 5.69 percent in December 2023 and 6.52% in January 2024. Inflation peaked in August 2023 at 6.83 percent. The National Statistical Office (NSO) published data showing that retail inflation in the food basket decreased to 8.3% in January 2024 from 9.3% in the previous month.The government has given the Reserve Bank of India the mandate to guarantee that retail inflation stays at 4% with a margin of 2% on each side.
