India’s retail inflation eased to 5-month low of 4.85 per cent in March primarily due to cooling meals costs, in accordance to official knowledge launched on Friday (April 12).
The Consumer Price Index (CPI) based mostly retail inflation was 5.09 per cent in February and 5.66 per cent in March 2023. Previously, CPI-based inflation was the bottom at 4.87 per cent in October 2023.
The inflation in the meals basket was at 8.52 per cent in March, down from 8.66 per cent in February, in accordance to the info launched by the National Statistical Office (NSO).
The authorities has tasked the Reserve Bank to guarantee inflation stays at 4 per cent, with a margin of 2 per cent on both facet.
According to the Reserve Bank, which elements in shopper inflation whereas arriving at its bi-monthly financial coverage, meals value uncertainties proceed to weigh on the inflation trajectory going ahead. The central financial institution has projected retail inflation at 4.5 per cent for the present fiscal assuming a traditional monsoon.
Continuing geopolitical tensions additionally pose an upside threat to commodity costs and provide chains.
The RBI projected inflation at 4.9 per cent in the April-June quarter and at 3.8 per cent for the September quarter.
(With PTI Inputs)
