The price of essential commodities has increased, leading to a rise in the inflation rate. In the past four months, the inflation rate has reached its highest level at 5.69 percent. Based on the Consumer Price Index (CPI), the inflation rate was 5.55 percent in November 2023 and 5.72 percent in December 2022. Before that, in August of the previous year, the inflation rate had reached a high of 6.83 percent. According to the National Statistical Office, the current inflation rate for essential commodities in December has increased to 9.53 percent, compared to 8.7 percent the previous month and 4.9 percent the same month last year. The Reserve Bank of India considers the inflation rate as a crucial factor in its monetary policy review. It has the responsibility to maintain the inflation rate within a range of two percent.
The inflation rate is at its highest level in four months.
