Retail inflation declines to 6.93% in November

Retail inflation declined to 6.93% in November on softer food prices, though it remained above the comfort level of the Reserve Bank.

Retail inflation based on the Consumer Price Index (CPI) stood at 7.61% in October.

According to the CPI data released by the government on Monday, inflation in the food basket was 9.43% in November, down from 11% in the previous month.

The RBI, which mainly factors in retail inflation while arriving at key policy rates, has been mandated by the government to keep inflation at 4% (+, – 2%).

The central bank had maintained status quo in the policy rate earlier this month due to high inflation.

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