CURRENT AFFAIRS

Detailed explanation-1: -The Reserve Bank of India today released on its website the results of the following Surveys: Consumer Confidence Survey (CCS) – January 2023. Inflation Expectations Survey of Households (IESH) – January 2023. OBICUS Survey on manufacturing sector – Q2:2022-23.

Detailed explanation-2: -6. CPI headline inflation moderated to 5.7 per cent (y-o-y) in December 2022 – after easing to 5.9 per cent in November – on the back of double digit deflation in vegetable prices.

Detailed explanation-3: -"Inflation expectation of households rose by 10 basis points for the three-months-ahead period, whereas their one-year-ahead expectations remained unchanged from the November 2022 round of the survey, ” the central bank said on Wednesday in its households’ inflation expectations survey.

Detailed explanation-4: -The RBI has been tasked to ensure that retail inflation remains at 4 per cent with a margin of 2 per cent. However, it failed to keep the inflation rate below six per cent for three consecutive quarters beginning January 2022.

Detailed explanation-5: -In India, the Reserve Bank of India (RBI) projects retail inflation for the 12 months to March 2023 at 6.7%. The upper cap for its inflation target is 6%. RBI expects retail inflation to fall to 5% by April-June 2023.