New Delhi, Jan 12,2023: Retail inflation for December 2022 fell to a year’s low of 5.72 per cent, mainly due to low food prices, especially those of fruits and vegetables. This is the second consecutive month when it has remained within the RBI’s tolerance band of 2 per cent to 6 per cent.

The consumer price index (CPI) based inflation was at 5.88 per cent in November 2022, according to data released by the Ministry of Statistics and Programme Implementation on Thursday. In October 2022, it was at a higher band of 6.77 per cent.

Food inflation stood at 4.19 per cent in December 2022, lesser than 4.67 per cent level of November 2022, as per the official data.

Apart from fruits and vegetables, prices of oils and fats as well as meat and fish also fell in December 2022 compared to November 2022.

Meanwhile, factory output, which is measured in terms of index of industrial production (IIP), rose 7.1 per cent in November 2022 as against 4 per cent in October 2022, government data showed.