Retail inflation eased to 4.31 per cent in January from 5.22 per cent in December primarily due to declining food costs, as per the official data released on Wednesday. The retail inflation, measured by Consumer Price Index (CPI) was 5.1 per cent in January 2024.
Additionally, food inflation stood at 6.02 per cent, showing a major decline from 8.39 per cent in December and 8.3 per cent recorded in the corresponding month last year.
The RBI maintains a mandate to keep retail inflation at 4 per cent, with a permissible fluctuation range of 2 per cent above or below this target.