India’s Feb retail inflation remains above 6%

Higher cost of food items, as well as manufactured goods like clothing and footwear, kept India’s February 2022 retail inflation above the six-per cent-mark on a sequential as well as on a year-on-year basis.

As per the data furnished by the National Statistical Office on Monday, the Consumer Price Index (CPI) rose to 6.07 per cent last month from 6.01 per cent in January 2022.

Similarly, on a YoY basis, last month’s retail inflation rose at a faster rate than the 5.03 per cent increase in prices recorded for February 2021.

The trend assumes significance as retail inflation rate remained above the target range of the Reserve Bank of India, which has a CPI target range of 2-to-6 per cent.

As per the NSO data, the rate of rise in the Consumer Food Price Index, which measures the changes in retail prices of food products, increased to 5.85 per cent last month from 5.43 per cent in February 2021.

In terms of CPI inflation rate, pulses and products’ prices jumped by 3.02 per cent in February 2022 YoY. Meat and fish prices rose by 7.45 per cent, eggs were dearer by 4.15 per cent, and oils and fats prices rose 16.44 per cent. Similarly, the overall price of food and beverages category was up 5.93 per cent.

Besides, vegetable prices were up by 6.13 per cent.

Furthermore, as per the official data, the inflation rate for fuel and light was higher by 8.73 per cent.

In addition, sub-group of clothing and footwear showed a price acceleration of 8.86 per cent.

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