Retail inflation at 5-year high of 7.3% in India

India’s retail inflation rate is now at a 5-year high in December 2019, it reached 7.35% breaching the upper-limit of 6% set by the RBI. Inflation is the constant rise in the general level of prices where a unit of currency buys less than it did in prior periods. It indicates a decrease in the purchasing power of a nation’s currency. A shortage of onions drove the surge in December 2019.

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