New Delhi, Feb. 13 -- January's inflation and industrial activity numbers have vindicated the decision of the Monetary Policy Committee (MPC) of the Reserve bank of India (RBI) to cut the policy rate after five years. While inflation has sharply dipped compared to December, almost in line with RBI's actual target of 4%, industrial growth continues to be weak amid concerns of a larger cyclical slowdown in growth.
India's benchmark inflation rate, as measured by the Consumer Price Index (CPI) came down to 4.3% in January from 5.2% in December 2024. January's inflation number is the lowest since August 2024 when it was 3.7%. This is primarily a reflection of moderation in food inflation which has fallen to 6% from 8.4%. BOOK II
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