Retail inflation is red hot once again. Just after two months of cooling below 6%, it spiked to 6.52%, led by a rise in the prices of food items like cereals.
Inflation in food and beverages was at 6.19% in January against 4.58% in December.
Cereal inflation continued to rise to record highs, touching 16.12% in January. Wheat prices rose 25.05% in January—the highest since at least 2015—pushing up costs of other related products, ranging from white flour to bakery items.
Inflation in spices spiked to 21.09%—also the highest since at least 2014—marking the eighth straight month of an increase. Milk inflation rose to 8.79%.
Everything That Glitters
Gold inflation rose to 13.28%, while silver inflation rose to 6.7%.
Inflation in clothing and footwear continued to come off its record highs, falling to an eight-month low. But it still remains elevated at 9.08%.
Utilities Continue To Give A Breather
Petrol and diesel continued to see marginal inflation at less than 1% compared to a year earlier when they rose in double-digits. Prices of LPG, diesel and petrol remained largely unchanged over the previous month as well.
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