India's inflation rate is 5.1%, lowest in last three months

Yes, you heard it right, India's retail inflation rate has decreased from 5.69% to 5.1% compared to November and December 2023.

According to reports showed by Ministry of Statistics and Programme Implementation on February 12.

Inflation in Urban areas has decreased by 0.59% to 5.34% as of December 2023. And on the other hand, inflation in rural areas as of December 2023 5.46%(-0.54) has decreased to 4.92%. 

The combined inflation of rural and urban areas has declined from 5.1% to 5.69% ( decresed by 0.59%) as compared to December 2023. 

In january, Food inflation decreased from 9.53% to 8.3% as of December 2023, which saw a decline of 1.23%.

Inflation of consumable items 

• Cereals = 7.83%

• Meat, fish =1=19%

• Pulses = 19.54%

• Housing = 3.82%

• Clothing = 3.37%

Inflation of 8.65% and 27.63% was seen in fruits and vegetables respectively. Inflation of vegetables decreased by 0.61% to 27.03% in December 2023.

On the other hand, inflation in edible oil and fuel decreased to 14.96% and 0.6% respectively.

RBI has often stated in its meetings and also says that it will reduce inflation to 4%. However, Consumer Price Index (CPI) data shows that RBI is far away from its target.