AMN / NEW DELHI
Retail inflation has risen to 4.88 per cent in November this year on account of costlier fuel, vegetables and eggs. According to the Ministry of Statistics and Programme Implementation, the inflation, based on Consumer Price Index (CPI), was at 3.58 per cent in October. It was 3.63 per cent in November last year.
Inflation in eggs shot to 7.95 per cent in November on annual basis, as against 0.69 per cent in the previous month.In the fuel and light segment, it was 7.92 per cent, as against 6.36 in October.
For vegetables it was 22.48 per cent in November. The inflation in the segment was a only 7.47 per cent in October.
However, in the pulses segment the print continued to show disinflationary trend as it contracted by 23.53 per cent on annual basis.On overall basis, the inflation in the food segment increased to 4.42 per cent in November as compared to 1.9 per cent in the preceding month.
Food inflation remained volatile with prices falling in September and firming up in October, as eggs, vegetables and fruits became relatively more expensive.
Consumer vegetable inflation came in at 6.89 percent in November, while prices of pulses continued to fall -23 percent.
Fuel and light inflation, which has seen an uptick in July, grew 2.04 percent in November, as compared with 6.36 percent in October.
Housing inflation nearly grew 7.36 percent in November from 6.68 percent in October.
Last week, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) forecasted that retail inflation will hover around the range 4.3 to 4.7 percent in quarter ended December and March, higher than the previous projection of 4.2-4.6 percent.