Retail inflation rate stayed almost flat at 5.09 per cent in February compared to the preceding month, according to official data released on Tuesday.
Also read: February’s retail inflation likely to be around 5%
Inflation based on the Consumer Price Index (CPI) was at 5.1 per cent in January and 6.44 per cent in February 2023.
According to the data released by the National Statistical Office (NSO), retail inflation in the food basket was at 8.66 per cent in February, marginally up from 8.3 per cent in the previous month.
Also read: Industrial production grows 3.8% in Jan
The Reserve Bank of India has been tasked by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
Last month, the central bank projected the CPI inflation at 5.4 per cent for the current fiscal (2023-24) and recorded at 5 per cent in January-March quarter.