India's Retail Inflation Has Eased Marginally To Four-Months Low Of 5.09% In February: SBI Research

SBI Research Report

India's retail inflation has eased marginally to four-months low of 5.09% (our estimate: 5.09%) in February 2024, compared to 5.10% in January, due to the deceleration in all categories except food. The persistence in food inflation carried in current month.

Food inflation increased to 7.76% from the previous month print of 7.58%. Within food inflation, protein items (meat, egg) inflation increased exorbitantly (in the range of 400-500 basis points) in February month as compared to Jan month.

Vegetable prices also increased month-on-month by 300 bps to 30.2%.

Core CPI declined to 3.37% - a 52-months low and reached the level of October 2019. The present reading a trend reversal in CPI after its acceleration due to Covid-19 and subsequently declined.

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