India's retail inflation accelerates to 6.01% in January, hits 7-month high

Jan inflation has breached the upper limit of the Reserve Bank of India's tolerance band

India's retail inflation accelerated to 6.01% in January, the upper limit of the Reserve Bank of India's tolerance band, driven by rising prices of food and manufactured items.

The inflation, as measured by the consumer price index (CPI), rose to 6.01% in January on an annual basis, the highest in seven months, from a revised 5.66% in December and 4.06% in January 2021, showed government data on Monday.

As per the data released by the National Statistical Office (NSO), the inflation in the food basket was 5.43% in January 2022 as against 4.05% in the preceding month.

Inflation is climbing across the world