New Delhi: Retail inflation rose significantly to over three-year high of 5.54 per cent in November, mainly on account of higher food prices.
The inflation based on Consumer Price Index (CPI) was 4.62 per cent in October, and 2.33 per cent in November 2018.
As per the data released by the National Statistical Office (NSO), the inflation in the food rose to 10.01 per cent. This compares with 7.89 per cent October and (-) 2.61 per cent in the year ago-month.
The previous high of CPI was 6.07 in July 2016.
The Reserve Bank of India has been mandated by the government to contain inflation in the range of 4 per cent, with a margin of 2 per cent on either side.
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Well over the norm of 4% which the RBI has been enjoined to preserve. Very close to 6%, when things begin to slip out of control. The RBI has been too obsessed with rate cuts. It should now focus on its core function.