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India’s retail inflation surges to 2.57% in February
Mar-13-2019

Halting four-month easing trend, India’s retail inflation based on Consumer Price Index (CPI) surged to 2.57% in the month of February 2019 higher from 1.97% posted in January 2019, but lower compared to 4.44% in the same month of previous year. The earlier lowest inflation was 2.33% in November 2018. Besides, the inflation, which measures changes in shop-end prices, remained comfortably within Reserve Bank of India’s (RBI's) target level of 4%. On the other hand, the Consumer Food Price Index (CFPI) inflation came in at deflation narrowed to (-) 0.66% in February 2019, compared to (-) 2.24% from previous month, while food inflation was at 3.26% in February 2018.

As per the data of the Central Statistics Office (CSO), Ministry of Statistics and Programme, the CPI (Rural, Urban, Combined) on Base2012=100 for February 2019, stood at 1.81%, 3.43% and 2.57% respectively, compared to 4.45%, 4.52% and 4.44%, respectively in February 2018. The index value of CPI for combined stood at 139.9. The data also showed that CFPI for all India Rural and Urban for February 2019 stood at (-) 1.75% and 1.27%, respectively, compared to 3.70% and 2.45%, respectively in February 2018. The index value of CFPI for combined stood at 135.2 for the month of February.

Among the CPI components, inflation of food and beverages increased to (-) 0.07% in February 2019 from (-) 1.29% in January 2019. Within the food items, the inflation moved up for vegetables to (-) 7.69%, cereals and products 1.32%, pulses and products (-) 3.82%, meat and fish 5.92% and oils and fats 1.41%. Further, the inflation also moved up for sugar and confectionery (-) 6.92%, egg 0.86%, milk and products 0.92%, spices 1.82% and prepared meals, snacks, sweets etc 3.54%. However, the inflation declined for non-alcoholic beverages to 3.89% in February 2019.

The inflation for housing eased to 5.10%, while that for miscellaneous items was flat at 6.02% in February 2019. Within the miscellaneous items, the inflation for personal care and effects rose to 5.01%, education 8.13% and recreation and amusement 5.54%, while it eased for health to 8.82%, household goods and services 6.29% and transport and communication 3.08% in February 2019. The inflation for clothing and footwear declined to 2.73%, while the CPI inflation of fuel and light dipped to 1.24% in February 2019.
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