By Admin 
Retail Inflation In India: Amidst the increasing global tension related to Iran and the latest inflation figures, news has come out that increases the concern for the common people. According to government data released on Thursday, retail inflation has again increased in the country.
According to government data, retail inflation based on Consumer Price Index (CPI) increased to 3.21% in February, whereas it was 2.74% in January. These figures have been released by the National Statistical Office (NSO) and have been prepared on the basis of the new series with base year 2024.
Food inflation also increased
Food inflation has also increased rapidly in February whereas a month ago i.e. in January, food inflation was 2.13%. It increased to 3.47% in February.
prices of which things increased
During this period, a sharp rise in the prices of many commodities was seen, including:
gold and silver jewelery
diamond and platinum jewelery
coconut and copra
Tomato
Cauliflower
prices of which things decreased
There was also relief in the prices of some food items, such as:
Garlic
Onion
Potato
arhar dal
litchi
rural and urban inflation
According to the data, the impact of inflation was different in both rural and urban areas:
Inflation rate in rural areas: 3.37%
Inflation rate in urban areas: 3.02%
Experts say that if tensions in West Asia increase and persist for a long time and oil prices remain high, there may be further pressure on inflation in the coming months. Its effect can be seen on both the expenditure of common people and the economy of the country.
It is noteworthy that after the release of Retail Inflation Index last month, Chief Economic Advisor of the Central Government V. Anantha Nageswaran had said that if the fluctuations in the Consumer Price Index (CPI) are reduced, then it will also bring stability in the financial expenses of the government.
Additionally, he further said that many government expenditures, such as determination of Dearness Allowance and inflation-linked bonds, are directly linked to CPI. So if the CPI remains more stable, these expenses become easier to estimate and become more reliable and predictable.
Also read: From hotels and restaurants to funerals… these five big impacts of Iran War on India, what are the options now?