Retail inflation rate touches five-and-a-half year high

A massive rise in food prices lifted India's December retail inflation to 7.35 per cent from 5.54 per cent in November, official data showed on Monday.Similarly, on a year-on-year (YoY) basis, the Consumer Price Index (CPI) for December was higher than the corresponding period of last year when retail inflation stood at 2.11 per cent. 

The data assumes significance as the Reserve Bank of India in its last monetary policy review maintained the key lending rates on account of rising retail inflation.