India’s retail inflation, as measured by the Consumer Price Index (CPI), recorded 3.61% in the month of February as compared to 4.21% reported in the year-ago period, showed data released by the National Statistics Office (NSO) on Wednesday (March 12).According to the CNBC-TV18 poll of economists, the February 2024 CPI was pegged at 3.85%.
India’s Consumer Price Index data for February showed a decline in food inflation, which stood at 3.75% compared to 6.02% in the previous month and below the CNBC-TV18 poll estimate of 4.1%. Rural inflation eased to 3.79% from 4.64% in January, while urban inflation moderated to 3.32% from 3.87% month-on-month.
Also Read: Consumer prices fell in China in February, remain flat in sluggish economyVegetable inflation saw a sharp drop to -1.07% from 11.35%, while pulses inflation turned negative at -0.35% compared to 2.59% in January. Fuel and light inflation remained in deflationary territory at -1.33% against -1.38% in the prior month. Housing inflation inched up to 2.91% from 2.76%, while clothing and footwear inflation remained steady at 2.68%.The government has tasked the Reserve Bank of India (RBI) to ensure that retail inflation remains at 4%, with a margin of 2% on either side. The CPI data is mainly factored in by the RBI while making its bi-monthly monetary policy.First Published: Mar 12, 2025 4:05 PM IST
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