Retail Inflation November: The burden of inflation is increasing on the pocket of the common man. The effect of the cost of fruits and vegetables is also visible in the data of retail inflation. Retail inflation rose to a three-month high of 4.91 percent in November. This information has been given in the government data released on Monday. Retail inflation was 4.48 percent in October this year. At the same time, it was 4.35 percent in September. At the same time, talking about November, 2020, it was 6.93 percent.
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Inflation rate is under RBI’s purview
However, this figure remains under the purview of the Reserve Bank of India (RBI). The government has entrusted the RBI with the responsibility of keeping the retail inflation rate at four per cent with a fluctuating rate of two per cent. According to the data of the National Statistical Office (NSO), inflation in the case of vegetables was negative on an annual basis. However, it is faster than the previous month. In the case of oil and fat, the inflation rate was 29.67 per cent year-on-year in November this year. However, it is less as compared to October. On the other hand, in case of fruits, the retail inflation was higher in the month of November as compared to the previous month. Overall, food inflation stood at 1.87 per cent in November this year as against 0.85 per cent in the previous month. However, it is lower as compared to 9.5 per cent in November 2020.
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ICRA Chief Economist Aditi Nair said that prices of food items except tomatoes have improved. This has led to a moderation in inflation. He said, “As per our assessment, as long as retail inflation remains in the range of two to six percent, the Monetary Policy Committee and RBI will give priority to economic growth.” M Namgyel, Head (Agritech) IFFCO Kisan Sanchar Limited said That good thing for the common man is the fall in the prices of vegetables on an annual basis. This is largely due to seasonal factors and lower transportation costs due to the fall in the prices of petrol and diesel.