By A Staff Reporter: According to Gourav Vallabh, the BJP leader, the retail inflation in India has dropped to 4.75% in May 2024, marking a significant one-year low. In a statement, Vallabh pointed out that this retail inflation figure has been the lowest in 12 months, indicating a positive trend in the Indian economy.
Additionally, Vallabh mentioned that during the past decade, the average retail inflation rate has been 4.65%. In contrast, during the ruling of the ten-year UPA government, the average retail inflation rate touched a staggering 9.25%. This highlights the significant shift in retail inflation rates during the past decade, with the Modi government's average retail inflation rate being half that of the previous UPA government.
Furthermore, Vallabh pointed out that the Modi government witnessed a massive decline in food inflation rates, with figures of 3.93% compared to those of the UPA government at 12.1%. This indicates the success of the government's efforts to keep inflation under control and build a sustainable economy that benefits all segments of Indian society.
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