India's retail inflation hits 5.55 per cent in November

India's consumer price inflation witnessed a significant surge, reached 5.55% in November, according to data released by the Ministry of Statistics and Programme Implementation on December 12.
The Consumer Price Index (CPI) inflation print in October was 4.87 percent.At 5.55 percent, the latest CPI inflation figure is below expectations, with economists having predicted prices likely rose 5.8 percent year-on-year in November.Although headline inflation remained within the Reserve Bank of India's (RBI) tolerance range of 2-6 percent for the third month in a row, it has now been above the medium-term target of 4 percent for 50 consecutive months, according to information.
In terms of the price momentum, food items were the dominant force, with the Consumer Food Price Index posting a sequential increase of 1.1 percent in November as opposed to the 0.5 percent MoM increase in the general index of the CPI.

(Ira Singh Asstt Editor)