The retail Inflation shows downward trend, 1.1 % decline in Feb

New Delhi: February retail inflation or Consumer Price Index eased to 6.58 per cent compared with 7.59 per cent in the preceding month, according to data released by the government on Thursday.Food prices, which is a measure to gauge changes in kitchen budgets, stood at 10.81 per cent in February against 13.63 per cent in January.

The CPI inflation registered in Food and beverages sector was 9.45 per cent because of modest rise in prices of vegetables.The CPI inflation for Cereals and Products stood at 5.23 per cent while Pan, Tobacco and intoxicants, at 4.10 per cent.

The retail inflation for Pan, tobacco and intoxicants stood at 4.10 per cent  while for Clothing and footwear at 2.05 per cent.The retail inflation for Housing was registered at 4.24 per cent while for Fuel and light, at 6.36 per cent.

Analysts expect a further deceleration in the country as the spread of Corona across the globe is expected to impact the growth. This year the RBI has not been able to cut its policy rates due to a sharp rise in retail inflation in the last few months.

But amid uncertainty about how the Corona virus will spread, the RBI said it would act accordingly and expressed its willingness to ease monetary policy further, while persistent high inflation could make it difficult for it to act.

The total number of confirmed cases of Corona virus rose to 73 in India, according to the government.(UNI)