|
|
|
Retail inflation slide owing to fall in food prices: Govt
|
|
|
|
Top Stories |
|
|
|
|
IANS | 14 Nov, 2022
As retail inflation in October eased to 6.77 per cent compared to 7.41
per cent in September, though still remaining above the RBI's tolerance
band of 6 per cent for the 10th straight month, the government on Monday
credited the slide to a fall in food price inflation.
"The
headline inflation rate based on the retail Consumer Price Index
recorded a decline from 7.41 per cent in September 2022 to 6.77 per cent
in October 2022. The significant decline in retail inflation is mainly
due to a decrease in food price inflation," the Finance Ministry said in
a series of tweets.
Consumer food price inflation moderated
significantly in October 2022, to 7.01 per cent, which is lower than 8.6
per cent recorded in September 2022. The decline in prices of
vegetables, fruits, pulses and oils and fats contributed significantly
to the reduction in containing food price inflation, the ministry
tweeted.
"Prices of commodities like crude oil, iron ore and
steel sobered in global markets. This, coupled with measures taken by
the Government to rationalise tariff structures of major inputs to
augment domestic supply, helped to keep cost-push inflation in consumer
items under control," it added.
To soften the prices of edible
oils and pulses, tariffs on imported items have been rationalised from
time to time and stock limits on edible oils maintained, to avoid
hoarding. Inflation in "oils and fats" and "pulses and products"
moderated to -2.15 per cent and 2.78 per cent, respectively, the
ministry said.
Further, the government has taken trade-related
measures on wheat and rice to keep domestic supplies steady and curb the
rise in prices. The impact of these measures is expected to be felt
more significantly in the coming months, it noted.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|