CPI Inflation December 2022: Relief from inflation, inflation reduced to 5.72 percent in December

At last, the hope of getting relief from inflation is slowly rising. Domestic Consumer Price Index (CPI) data for December, 2022 has been released by the Ministry of Statistics and Program Implementation. According to the data, the retail inflation (CPI) has come down to 5.72 percent in December, while the figure was 5.88 percent in November.

Inflation rates declined in October. It was 6.77 percent, while 7.41 percent domestic consumer price index was recorded in September. There was little hope of a moderation in inflation in December on the back of a fall in inflation in November and pick-up in industrial growth. However, inflation has also accelerated in recent months due to persistently rising food prices and higher energy costs.

For the last few months, inflation remained above the RBI tolerance band of 6 per cent, but now it has seen a decline for the last three months. The inflation figure is gauged after an adverse base effect, mainly reflecting the sustained decline in the momentum of food prices. Food inflation is the biggest reason for overall inflation.

Sectors such as clothing and footwear, fuel and electricity have shown growth on a month-on-month basis. Overall, the general index of CPI was down 0.5 percent from November to December, reflecting the momentum of falling prices.