India’s retail inflation hit a 17-month high

In December 2017, India’s retail inflation reached a new high 5.2% as vegetable and crude oil prices surged while the unfavourable base kept the retail prices much higher than the Reserve Bank of India’s midterm target. The surge in the prices of onions and tomatoes have kept the inflation rates high since July, last year. With fresh supplies of vegetables, the surge is now expected to get lower.