New Delhi: The budget of the common man is getting worse due to rising inflation. At the same time, rising oil prices are not taking the name of decreasing. On the other hand, expensive petrol and electricity have made up the rest. Due to which retail inflation has reached 5.59% in December 2021. Let us tell you that the figure is very close to the maximum limit of inflation rate fixed by the Reserve Bank of India.
Food prices rise
The National Statistical Office (NSO) has released the retail inflation data on Wednesday. According to the released data, the inflation rate has increased due to the increase in the prices of food grains and ration. Food inflation rose to 4.05 per cent in December from 1.87 per cent in November.
Vegetable prices fall, oil on the sky
According to the released data, the inflation rate of vegetables has worked in December 2021 as compared to December of 2020 and it has registered a decline of 2.99 percent. Whereas during the same period the inflation rate of edible oils was seen skyrocketing. It has increased by 24.32% during this period and the inflation rate of fuel and electricity has also been 10.95%.
Inflation increased for the third month
It is noteworthy that in November 2021, the retail inflation rate was 4.91 percent and in October was 4.48 percent. At the same time, in September 2021 compared to August 2021, it had come down to 4.35%. Let us tell you that in August 2021 this figure was 5.3 percent.
Whereas last year in December 2020, the inflation rate was 4.59%. It is to be known that the Reserve Bank of India (RBI) has set a target of 4 percent for the inflation rate and has kept a margin of 2% going up and down.
It is noteworthy that the retail inflation rate for December 2021 has reached near the maximum limit of the Reserve Bank. On the other hand, the National Bank has not made any change in the repo rate and reverse repo rate since 9 times to control inflation.