NEW DELHI, Mar 14 (NNN-PTI) – The rate of retail inflation in India slightly eased to 6.44 percent in Feb, from 6.52 percent in Jan, showed the official data, released by the federal Ministry of Statistics and Programme Implementation, yesterday.
The slight fall in the rate of retail inflation is attributed mainly to a decline in the rate of rise in prices of essential commodities, like clothing, footwear and eggs, among others.
“Growth in egg prices eased to 4.32 percent in Feb, against 8.78 percent in the previous month. Clothing and footwear inflation was at 8.79 percent, compared with 9.08 percent a month ago.”
It added that, cereal prices rose 16.73 percent in Feb, against a 16.12 percent rise in Jan. The rate of inflation in milk and milk products came in at 9.65 percent, compared to 8.79 percent in Jan.
Fuel and light inflation stood at 9.9 percent in Feb, against 10.84 percent in Jan.
The main cause of concern is that, the rate of retail inflation in the country has been above the tolerable goal of six percent, set by the country’s central bank, the Reserve Bank of India.
Meanwhile, prices of some vegetables, particularly brinjals and lemons, witnessed a steep hike in recent days, mainly because of a shortage in supplies from the fields.
“This shortage in supplies of vegetables will continue for the next few weeks, before supplies of summer vegetables begin,” said a vegetable trader in New Delhi.– NNN-PTI
