NEW DELHI: Rising food prices pushed the retail inflation in November to over three-year high of 5.54 per cent, while the industrial sector output shrank for third month in a row by 3.8 per cent in October, indicating deepening slowdown in the economy, Government data showed on Thursday.
The retail inflation in November breached the Reserve Bank’s medium-term target of 4 per cent, justifying the central bank’s decision to keep the benchmark interest rate unchanged in its monetary policy earlier this month.
According to the data released by the National Statistical Office (NSO), costlier vegetables, pulses and protein rich items pushed the consumer price index (CPI) based retail inflation to a 40-month high in November.
The previous high was in July 2016, when retail inflation was at 6.07 per cent. The print stood at 4.62 per cent in October and 2.33 per cent in November 2018. (AGENCIES)
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