India records the lowest inflation in five years

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.

credit- browntape.com

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.

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