2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7.04
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7.02
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7.05
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7.03
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Detailed explanation-1: -The government data shows that headline inflation rose from 3.59% in FY18 to 5.51% in FY22. In this fiscal so far, the retail inflation rose to a new high of 7.79% in April, 7.04% in May, 7.01% in June, 6.71% in July, 7% in August, 7.41% in September, 6.77% in October and 5.88% in November.
Detailed explanation-2: -The country’s retail inflation, which is measured by the consumer price index (CPI), dropped to a 1-year low of 5.72% in Dec. 2022 from 5.88% in Nov. 2022.
Detailed explanation-3: -The wholesale price index (WPI) inflation has softened to 10.7 per cent in September 2022 from its peak of 16.2 per cent in June 2022, Saket Dalmia, president, PHD Chamber of Commerce and Industry, said.
Detailed explanation-4: -Even before the inflation data was announced for April 2022, the Reuters consensus estimate had pegged India CPI inflation at 7.50%.
Detailed explanation-5: -For January-March 2023, the average retail inflation is seen at 4.7%. India’s retail inflation rate based on Consumer Price Index is expected to remain below RBI’s comfort zone of 6 per cent and will decline materially to 5 per cent by March 2023, said SBI Research in its latest Ecowrap report.