India's CPI Retail Inflation to 6.01 Percent in January 2022

 India's CPI Retail Inflation to 6.01 Percent in January 2022

CPI(Consumer Price Index) Inflation, also known as Retail Inflation rose to 6.01 Percent in the month of January 2022. It is noteworthy that the Retail inflation rate has been volatile in the recent few months post Covid-2019.

At the same time, India's Unemployment rate has dropped slightly. The Unemployment rate for the month of January was around 6.57 Percent - Urban contributed with 8.16 Percent and 5.84 Percent in Rural. For the past few months, the Unemployment rate in Urban areas has been higher than in Rural Areas.

The current said CPI Retail inflation for the month of January is above the Central Bank's near term target. Due to the rising prices of Food inflation, it went above the 6 Percent rate. On January 2022, the pulses grew by 3 Percent, Vegetables by 5.19 Percent, Oil and Fats by 18.7 Percent. 

Retail Inflation of January 2022 is the highest price Since October 2020. Prices of Fuel and Light were also increased by 9.32 Percent. Clothing and Footwear rose by 8.84 Percent, Household 3.52 Percent, Pan and Tobacco products by 2.45 Percent. 

It is noteworthy that the Food related products alone accounted for 46 Percent of the Country's CPI - Retail Inflation. Housing Contributed 10.7 Percent, Transport and Communication 8.6 Percent, Health care 5.9 Percent and Education by 4.46 Percent in India's Retail Consumer Price Index.

The Central Bank's (Reserve Bank of India) Short Term target for Retail inflation is between 2 and 6 Percent. With the Current consumer price index inflation, the target being surpassed. However, it is said to be an expected one.

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