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Rise in vegetable prices lifts December’s retail inflation rate

Vegetables market

The news: On a sequential and year-over-year basis, high food prices boosted India’s retail inflation rate in December 2021. Retail inflation has nearly hit the range limit of the Reserve Bank of India’s established target of 2-6 percent, making the macroeconomic statistics significant.

Facts & Figures: The CPI Urban increased to 5.83 percent last month from 5.54 percent the previous month, while the CPI Rural increased to 5.36 percent from 4.29 percent.

  • As per the NSO data, the rate of rise in the Consumer Food Price Index, which measures the changes in retail prices of food products, increased to 4.05 per cent last month from 1.87 per cent in November 2021 and 3.41 per cent in December 2020.
  • Furthermore, as per the official data, the inflation rate for fuel and light was at 10.95 per cent. In addition, sub-group of clothing and footwear showed a price acceleration of 8.30 per cent.
  • According to NSO statistics, the Consumer Food Price Index, which tracks increases in retail food prices, grew to 4.05 percent last month, up from 1.87 percent in November 2021 and 3.41 percent in December 2020.

Furthermore, according to official figures, the rate of inflation for gasoline and light was 10.95%. In addition, the clothes and footwear sub-group experienced an 8.30% price increase.

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