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CPI inflation slumps to 11-month low of 5.88% in November | CPT PPP Coverage

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CPI inflation slumps to 11-month low of 5.88% in November appeared on www.moneycontrol.com by .

After falling for the second month in a row, retail inflation has now fallen below the 6 percent upper bound of RBI’s tolerance band for the first time in 2022

December 12, 2022 / 05:40 PM IST

Inflation

India’s headline retail inflation rate slumped to an 11-month low of 5.88 percent in November from 6.77 percent in the previous month, data released on December 12 by the ministry of statistics and programme implementation showed.

At 5.88 percent, the latest Consumer Price Index (CPI) inflation print is well below the consensus estimate. As per a Moneycontrol poll, inflation was seen falling to 6.4 percent.

The fall in inflation in November follows a similar drop in October, allowing it to fall below the 6 percent upper bound of the Reserve Bank of India’s (RBI) 2-6 percent tolerance band for the first time in 2022.

As for the medium-term target of 4 percent, CPI inflation has exceeded it for 38 months in a row.

Siddharth Upasani is a Special Correspondent at Moneycontrol. He has been covering the Indian economy, economic data, and monetary and fiscal policies for nine years. He tweets at @SiddharthUbiWan.

Contact: siddharth.upasani@nw18.com



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