After demonetisation of higher currency notes, inflation goes down to a record percentage breaking five year old record. For the first time India recorded 3.2% inflation rate in last five years. However the Reserve Bank of India (RBI) is likely to wait for a while and see more changes to take any further step. It is reported in Economics Times.
Data released by the Central Statistics Office (CSO) indicated that inflation rate rose only at the rate of 3.2% this month while it was 5.7 in the same month last year (2016), which is the slowest since 2012.
Inflation in rural areas is now 2.9% while in urban areas, it is 3.4%. People are now happy to see the price of the most of food components fall down. While there are some items which still sell at high prices.