January CPI inflation slows to 24-month low of 8.79 pc

Tags: News
The annual consumer price inflation eased more than expected to a 24-month low of 8.79 percent in January, helped by moderating food prices, government data showed on Wednesday.

A Reuters poll had forecast retail inflation would slow to 9.40 percent from an annual 9.87 percent in December.

Food prices for consumers rose 9.90 percent last month from a year earlier, much slower than December's 12.16 percent rise.

The Reserve Bank of India has raised its benchmark interest rate three times since September in a bid to tame stubbornly high inflation.

Last month, a central bank panel proposed revamping its policymaking structure by setting a long-term retail inflation target of 4 percent, plus or minus 2 percent. In the intermediate term, it proposed the goal would be to bring it down to 8 percent by January 2015 and 6 percent by January 2016.

The RBI expects retail inflation to stay above 9 percent in the quarter through March.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The US can no longer take India for granted, as Kerry’s visit shows

    Despite the feel good factor in Indo-US ties, not the least surprising given BJP’s long term support for free market and laissez-faire economy, the

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Why cleanliness is a vital human right

I have spent the past few months in India witnessing ...

Parvez Imam

Tourism agenda with a colonial undertone

Tourism is supposed to bring in foreign exchange and provide ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture