NEW DELHI: Retail inflation based on consumer price index (CPI) jumped to 5.59 per cent for the month of December, data released by government showed on Wednesday.
The inflation figure for the month of November was recorded at 4.91 per cent.
The Reserve Bank of India (RBI) mainly factors in retail inflation while arriving at its bi-monthly policy.
Reserve Bank’s monetary policy committee (MPC) has been tasked by the government to tame retail inflation based on consumer price index (CPI) at 4 per cent (+,-2 per cent).
The RBI left its repo rate unchanged at 4% for a ninth consecutive policy meeting last month, sticking to its focus on economic growth as India still faces challenges from the coronavirus pandemic.