India's CPI Inflation rose to 6.52 Percent - January 2023

 India's CPI Inflation rose to 6.52 Percent - January 2023

 

Post September 2022, India's Retail Inflation (Consumer Price Index - CPI) which had been decreasing for three months in a row, increased to 6.52 Percent in the month of January this year. However the said inflation rate is less than the level seen in April 2022 where it was 7.79 Percent.

It is noteworthy that the current said inflation rate is above the Central Bank's Target of 2 to 6 Percent. In the previous year, January 2022 the retail inflation stood at 6.01 Percent. The current said inflation rate of 6.52 Percent in the month of January 2023 rose due to Food inflation. The Food inflation was increased to 5.94 Percent.

Like the housing inflation prices were also increased by 4.62 Percent and Tobacco products by 3.07 Percent. Meanwhile, the prices of Light and Fuel, Clothing and Footwear were broadly unchanged and slightly came down.

 

The January 2023 inflation rate was slightly higher than the Market expectations. In the same month, India's unemployment rate as per CMIE Data, has decreased to the Four month low. The unemployment rate in the month of January 2023 was 7.14 Percent. It was seen that 6.48 Percent in the Rural and 8.55 Percent in the Urban areas.

India's Retail inflation were mostly contributed by Food and Beverages with 45.86 Percent of total, Transport and Telecommunication has a contribution of 8.59 Percent, Health with 5.89 Percent and Education contributed around 4.46 Percent. Housing sector contributes 10.07 Percent, Light and Fuel with 6.84 Percent, Clothing and Footwear with 6.53 Percent in the Consumer Price Index - Retail Inflation in India.

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