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India retail inflation dips to 5.10% in Jan, a 3-month low By Reuters

India retail inflation dips to 5.10% in Jan, a 3-month low

© Reuters. Customers buy fruits and vegetables at an open air evening market in Ahmedabad, India, August 21, 2023. REUTERS/Amit Dave/File Photo

NEW DELHI (Reuters) – India’s annual retail inflation eased to a three-month low of 5.10% in January from 5.69% in the previous month, helped by a slower rise in prices of some food items, government data showed on Monday.

A Reuters poll of 44 economists had forecast inflation at 5.09%.

Food inflation, which accounts for nearly half of the overall consumer price basket, was 8.30% in January, compared with 9.53% in December.

Last week, Reserve Bank of India left rates unchanged, signalling that interest rate cuts may be some time away as it focuses on getting inflation to 4% on a durable basis.

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