Consumer inflation rises to 2.57% in February: Government
New Delhi : The consumer inflation stands at provisional 2.57% in the month of February as mentioned by the latest data released by the government. Consumer inflation in January was revised downwards to 1.97 per cent from 2.05 per cent, according to the official statement.
Last month, The Reserve Bank of India had slashed the repo rate by 25 basis points. The central bank also changed its policy stance to "neutral" from "calibrated tightening". The repo rate - which is the key interest rate at which the RBI lends short-term funds to commercial banks - currently stands at 6.25 per cent.
The RBI has maintained a medium-term goal of 4 per cent for consumer inflation, which it tracks primarily to formulate its policy. Consumer inflation - determined by Consumer Price Index (CPI) - indicates the rate of increase in consumer prices.