India's inflation ticks up, but still way below last year's high
Retail inflation in India is set to rise to about 1.66% in December—up from November's 0.71%—mainly due to a slowdown in food price deflation, with month-on-month food prices rising across most segments.
But don't worry, that number is still much lower than the 7.7% spike we saw last December.
Official numbers drop January 12.
What's happening with prices?
Core inflation (which leaves out food and fuel) is expected to hit 4.68%, mainly thanks to gold getting pricier last month.
Food prices aren't falling as fast as before: food CPI is at -1.19%, compared to -2.78% in November, showing a slowdown in deflation.
How's the RBI reacting?
With inflation mostly under control, the Reserve Bank of India cut its forecast for next year.
RBI Governor Sanjay Malhotra called this a "rare goldilocks period," since nearly 80% of goods and services are seeing less than 4% inflation—a pretty comfortable spot for most people right now.