India's Retail Inflation to 6.93 Percent - CPI November 2020

 

India's inflation rate has been rising in the current Financial year 2020-21. The CPI(Consumer price index) Retail inflation, which stood at 5..84 Percent in the month of March 2020 and then peaked at 7.6 Percent in October 2020. The said 7.61 Percent rate was said to be the highest in Six years.

According to the RBI's Inflation policy, the retail price inflation target has been set between 2-6 Percent in the short term. However, the Inflation for November 2020 stood at 6.93 Percent. For the eight consecutive months, the country's retail inflation rate has been rising above the Central bank's Target.

The said CPI inflation is high due to significant increases in the price of Food, Housing, Tobacco, Footwear and Clothing. Food and beverages were accounted for 46 Percent of the Total under Consumer Price Index list. Dairy products at 6.61 Percent, Cereals and products contributed with 9.67 Percent and Vegetables have around 6 Percent of the Total.

Oil were accounted for 3.56 Percent, Meat and Fish 3.61 Percent, Transport and Communications were at 8.6 Percent and Health contributed with 6 Percent under CPI Inflation.

Housing accounts for 10 Percent of Retail Inflation. Fuel and Lights accounted with 6.84 Percent, while Clothing and Footwear were contributed for 6.53 Percent. The Country's Wholesale price index(WPI) inflation stood at 1.55 Percent in the month of November 2020. 

This has been said to be the highest in the past Nine months.

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