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New Delhi, March 12 (IANS) India's retail inflation slowed to a four-month low of 5.09 per cent in February bringing some relief to household budgets, official figures released on Tuesday showed.
The retail Inflation in January was a tad higher at 5.1 per cent.
There was a sharp decline in cooking oil prices during February which came down by as much as 11.67 per cent. The price rise in spices slowed to 13.28 per cent, compared to 16.36 per cent in January.
However, the data show that vegetable prices shot up by as much as 31.38 per cent in January. There was no relief as far as pulses are concerned as they turned costlier by 20.47 per cent, while the prices of cereals went up by 7.83 per cent.
The consumer price inflation is now above the 4 per cent midpoint of the RBI’s 2-6 per cent target range and is the main reason why the central bank is not going in for a cut in interest rates to spur economic growth. The RBI is keen to keep inflation under control to ensure stability and has held the repo rate steady at 6.5 per cent for six consecutive times in a row in its bi-monthly monetary policy reviews.
The latest inflation data comes weeks before the RBI's Monetary Policy Committee (MPC) meets again on April 3-5.
