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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68031b0f0c8e2-trace').style.display = (document.getElementById('cakeErr68031b0f0c8e2-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr68031b0f0c8e2-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68031b0f0c8e2-code').style.display = (document.getElementById('cakeErr68031b0f0c8e2-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr68031b0f0c8e2-context').style.display = (document.getElementById('cakeErr68031b0f0c8e2-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr68031b0f0c8e2-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
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<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
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Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
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Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.
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Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.
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Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.
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Protein-rich items such as eggs, meat and fish became dearer by 12.64 per cent in December as compared to 11.96 per cent in the previous month. Inflation in the food and beverages segment was 12.16 per cent as against 14.72 per cent recorded in November.
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The retail inflation was in double digits in October and November. The data showed that the provisional inflation for rural and urban areas for December was 10.49 per cent and 9.11 per cent, respectively.
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Data on inflation based on the wholesale price index is scheduled for release tomorrow. The Reserve Bank, scheduled to announce its monetary policy review on January 28, has kept policy rates unchanged expecting that inflation, both consumer and retail, would ease.
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Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.
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Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.
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Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
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-Outlook
Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
Inflation as measured by the Consumer Price Index (CPI) for November..."/>
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<strong>Retail Inflation Slows to 9.87% in December</strong></h1>
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<div align="justify">-Outlook</div><p align="justify"><br />Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.</p><p align="justify">Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.</p><p align="justify">Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.</p><p align="justify">Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.</p><p align="justify">Protein-rich items such as eggs, meat and fish became dearer by 12.64 per cent in December as compared to 11.96 per cent in the previous month. Inflation in the food and beverages segment was 12.16 per cent as against 14.72 per cent recorded in November.</p><p align="justify">The retail inflation was in double digits in October and November. The data showed that the provisional inflation for rural and urban areas for December was 10.49 per cent and 9.11 per cent, respectively.</p><p align="justify">Data on inflation based on the wholesale price index is scheduled for release tomorrow. The Reserve Bank, scheduled to announce its monetary policy review on January 28, has kept policy rates unchanged expecting that inflation, both consumer and retail, would ease.</p><p align="justify">The key policy rate (repo) was hiked twice between September and November to check inflation. With industrial growth slowing to six-month low in November, there has been a strong demand from the industry for a reduction in policy rates.</p> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68031b0f0c8e2-trace').style.display = (document.getElementById('cakeErr68031b0f0c8e2-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr68031b0f0c8e2-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68031b0f0c8e2-code').style.display = (document.getElementById('cakeErr68031b0f0c8e2-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr68031b0f0c8e2-context').style.display = (document.getElementById('cakeErr68031b0f0c8e2-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr68031b0f0c8e2-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
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<code><span style="color: #000000"><span style="color: #0000BB"> </span><span style="color: #007700"><</span><span style="color: #0000BB">meta http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type" </span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html; charset=utf-8"</span><span style="color: #007700">/>
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-Outlook
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<p align="justify">
<br />
Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
</p>
<p align="justify">
Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.
</p>
<p align="justify">
Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.
</p>
<p align="justify">
Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.
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<p align="justify">
Protein-rich items such as eggs, meat and fish became dearer by 12.64 per cent in December as compared to 11.96 per cent in the previous month. Inflation in the food and beverages segment was 12.16 per cent as against 14.72 per cent recorded in November.
</p>
<p align="justify">
The retail inflation was in double digits in October and November. The data showed that the provisional inflation for rural and urban areas for December was 10.49 per cent and 9.11 per cent, respectively.
</p>
<p align="justify">
Data on inflation based on the wholesale price index is scheduled for release tomorrow. The Reserve Bank, scheduled to announce its monetary policy review on January 28, has kept policy rates unchanged expecting that inflation, both consumer and retail, would ease.
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The key policy rate (repo) was hiked twice between September and November to check inflation. With industrial growth slowing to six-month low in November, there has been a strong demand from the industry for a reduction in policy rates.
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-Outlook
Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
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<br />
Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
</p>
<p align="justify">
Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.
</p>
<p align="justify">
Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.
</p>
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Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.
</p>
<p align="justify">
Protein-rich items such as eggs, meat and fish became dearer by 12.64 per cent in December as compared to 11.96 per cent in the previous month. Inflation in the food and beverages segment was 12.16 per cent as against 14.72 per cent recorded in November.
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The retail inflation was in double digits in October and November. The data showed that the provisional inflation for rural and urban areas for December was 10.49 per cent and 9.11 per cent, respectively.
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Data on inflation based on the wholesale price index is scheduled for release tomorrow. The Reserve Bank, scheduled to announce its monetary policy review on January 28, has kept policy rates unchanged expecting that inflation, both consumer and retail, would ease.
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The key policy rate (repo) was hiked twice between September and November to check inflation. With industrial growth slowing to six-month low in November, there has been a strong demand from the industry for a reduction in policy rates.
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-Outlook
Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
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Cake\View\View::render() - CORE/src/View/View.php, line 885
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/retail-inflation-slows-to-9-87-in-december-23970.html"/>
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-Outlook
Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
Inflation as measured by the Consumer Price Index (CPI) for November..."/>
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<h1 class="news_headlines" style="font-style:normal">
<strong>Retail Inflation Slows to 9.87% in December</strong></h1>
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<div align="justify">-Outlook</div><p align="justify"><br />Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.</p><p align="justify">Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.</p><p align="justify">Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.</p><p align="justify">Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.</p><p align="justify">Protein-rich items such as eggs, meat and fish became dearer by 12.64 per cent in December as compared to 11.96 per cent in the previous month. Inflation in the food and beverages segment was 12.16 per cent as against 14.72 per cent recorded in November.</p><p align="justify">The retail inflation was in double digits in October and November. The data showed that the provisional inflation for rural and urban areas for December was 10.49 per cent and 9.11 per cent, respectively.</p><p align="justify">Data on inflation based on the wholesale price index is scheduled for release tomorrow. The Reserve Bank, scheduled to announce its monetary policy review on January 28, has kept policy rates unchanged expecting that inflation, both consumer and retail, would ease.</p><p align="justify">The key policy rate (repo) was hiked twice between September and November to check inflation. With industrial growth slowing to six-month low in November, there has been a strong demand from the industry for a reduction in policy rates.</p> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68031b0f0c8e2-trace').style.display = (document.getElementById('cakeErr68031b0f0c8e2-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr68031b0f0c8e2-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68031b0f0c8e2-code').style.display = (document.getElementById('cakeErr68031b0f0c8e2-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr68031b0f0c8e2-context').style.display = (document.getElementById('cakeErr68031b0f0c8e2-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr68031b0f0c8e2-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB"> </span><span style="color: #007700"><</span><span style="color: #0000BB">meta http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type" </span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html; charset=utf-8"</span><span style="color: #007700">/>
</span></span></code></pre><pre id="cakeErr68031b0f0c8e2-context" class="cake-context" style="display: none;">$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp'
$dataForView = [
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'id' => (int) 23803,
'title' => 'Retail Inflation Slows to 9.87% in December',
'subheading' => '',
'description' => '<div align="justify">
-Outlook
</div>
<p align="justify">
<br />
Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
</p>
<p align="justify">
Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.
</p>
<p align="justify">
Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.
</p>
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Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.
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The retail inflation was in double digits in October and November. The data showed that the provisional inflation for rural and urban areas for December was 10.49 per cent and 9.11 per cent, respectively.
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Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
Inflation as measured by the Consumer Price Index (CPI) for November..."/>
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<h1 class="news_headlines" style="font-style:normal">
<strong>Retail Inflation Slows to 9.87% in December</strong></h1>
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<div align="justify">-Outlook</div><p align="justify"><br />Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.</p><p align="justify">Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.</p><p align="justify">Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.</p><p align="justify">Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.</p><p align="justify">Protein-rich items such as eggs, meat and fish became dearer by 12.64 per cent in December as compared to 11.96 per cent in the previous month. Inflation in the food and beverages segment was 12.16 per cent as against 14.72 per cent recorded in November.</p><p align="justify">The retail inflation was in double digits in October and November. The data showed that the provisional inflation for rural and urban areas for December was 10.49 per cent and 9.11 per cent, respectively.</p><p align="justify">Data on inflation based on the wholesale price index is scheduled for release tomorrow. The Reserve Bank, scheduled to announce its monetary policy review on January 28, has kept policy rates unchanged expecting that inflation, both consumer and retail, would ease.</p><p align="justify">The key policy rate (repo) was hiked twice between September and November to check inflation. With industrial growth slowing to six-month low in November, there has been a strong demand from the industry for a reduction in policy rates.</p> </font>
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Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
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Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.
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Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.
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Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.
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Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
Inflation as measured by the Consumer Price Index (CPI) for November...'
$disp = '<div align="justify">-Outlook</div><p align="justify"><br />Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.</p><p align="justify">Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.</p><p align="justify">Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.</p><p align="justify">Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.</p><p align="justify">Protein-rich items such as eggs, meat and fish became dearer by 12.64 per cent in December as compared to 11.96 per cent in the previous month. Inflation in the food and beverages segment was 12.16 per cent as against 14.72 per cent recorded in November.</p><p align="justify">The retail inflation was in double digits in October and November. The data showed that the provisional inflation for rural and urban areas for December was 10.49 per cent and 9.11 per cent, respectively.</p><p align="justify">Data on inflation based on the wholesale price index is scheduled for release tomorrow. The Reserve Bank, scheduled to announce its monetary policy review on January 28, has kept policy rates unchanged expecting that inflation, both consumer and retail, would ease.</p><p align="justify">The key policy rate (repo) was hiked twice between September and November to check inflation. With industrial growth slowing to six-month low in November, there has been a strong demand from the industry for a reduction in policy rates.</p>'
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LATEST NEWS UPDATES | Retail Inflation Slows to 9.87% in December | Im4change.org
Retail Inflation Slows to 9.87% in December
-Outlook
Some moderation in vegetable and fruit prices eased December retail inflation to three-month low of 9.87 per cent, giving the Reserve Bank of India more leeway to manage interest rates.
Inflation as measured by the Consumer Price Index (CPI) for November has been revised marginally downwards to 11.16 per cent from preliminary estimate of 11.24 per cent.
Vegetable prices on annual basis rose 38.76 per cent in December, a slower pace than 61.6 per cent recorded in the previous month, as per the official data released today.
Fruit prices rose 14.64 per cent compared to 15 per cent in November. Pulses were dearer by 2.15 per cent, cereals by 12.14 per cent and milk products by 9.87 per cent in December.
Protein-rich items such as eggs, meat and fish became dearer by 12.64 per cent in December as compared to 11.96 per cent in the previous month. Inflation in the food and beverages segment was 12.16 per cent as against 14.72 per cent recorded in November.
The retail inflation was in double digits in October and November. The data showed that the provisional inflation for rural and urban areas for December was 10.49 per cent and 9.11 per cent, respectively.
Data on inflation based on the wholesale price index is scheduled for release tomorrow. The Reserve Bank, scheduled to announce its monetary policy review on January 28, has kept policy rates unchanged expecting that inflation, both consumer and retail, would ease.
The key policy rate (repo) was hiked twice between September and November to check inflation. With industrial growth slowing to six-month low in November, there has been a strong demand from the industry for a reduction in policy rates.
