New Delhi, Jan 12: Continuing rise in food and fuel prices pushed India's annual retail inflation rate over the five per cent-mark in December, official data showed on Friday, putting paid to hopes of an interest rate cut by the RBI in the near future.
According to the data furnished by the Ministry of Statistics and Programme Implementation, December's consumer price index (CPI) inflation rose to 5.21 per cent from 4.88 per cent in November.
On a year-on-year (YoY) basis, the CPI inflation last month was higher than the 3.41 per cent recorded in December 2016.
The Consumer food price index (CFPI) in December stood at 4.96 per cent compared to the 4.42 per cent of November 2017.
The annual CPI in rural areas in December ruled higher at 5.27 per cent, while in urban India it rose by 5.09 per cent.