Why in news?
NSO data : Retail Inflation Retail inflation soared to a five year high of 7.35% in December 2019.
NSO: retail inflation based on CPI was only 2.11% in December 2018 and 5.45% in November 2019.
More about CPI
- NSO data : Retail Inflation, The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.
- It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.
- Consumer Price Index in India is published monthly by the Central Statistical Organization (CSO)