People who have been troubled by inflation for a long time have started getting relief. The good thing is that inflation is going to remain mild for now. Economists believe that the core inflation figure is expected to be around 3 percent in the near future. This means that common people are expected to get relief from inflation for some time.
Relief will be available for the next 4 months
An ET report quoted economists as saying That the core inflation rate will be around 3 percent in the first quarter of the new financial year. After that its rate may increase, due to which there will be a lower base. The new financial year will start from next month. Currently, the month of March is going on, which is the last month of the current financial year 2023-24. The financial year 2024-25 will start from April. This means that currently inflation is not going to bother people for the next 4 months.
Inflation may come down to this extent
Core inflation rate in India was 3.5 percent in the month of January. Was at a low level. Before that in December its rate was 3.8 percent. The core inflation rate was below 4 percent for the second consecutive month in January 2024, due to which the overall consumer inflation rate was 5.1 percent. Economists say that the core inflation rate may fall to 3.3 percent in the coming months.
Relief is coming due to these reasons
The reason for the decline in core inflation is weak demand in rural areas. , There is moderation in housing inflation and low input cost pressure. Economists estimate that except for fuel and food items, people are going to get the benefit of low inflation pressure for the next 3-4 months in case of other goods and services.
Wholesale And retail inflation figures
The relief in inflation can also be gauged from the official figures of wholesale inflation and retail inflation. In the month of January, the inflation rate based on Wholesale Price Index i.e. WPI was 0.27 percent. This figure was at 4.8 percent a year ago in January 2023. At the same time, during the month of January, the retail inflation rate had come down to 5.10 percent from 5.69 percent a month earlier.
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