The retail inflation has dropped to 5.66 per cent in March from 6.44 per cent in February. The inflation determine in March is inside the RBI’s consolation zone as it’s under 6 per cent.
The retail inflation based mostly on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago interval.
According to the National Statistical Office, the inflation in the meals basket was 4.79 per cent in March, as towards 5.95 per cent in February and seven.68 per cent in the year-ago interval.
The retail inflation rose from 5.7 per cent in December 2022 to 6.4 per cent in February 2023 on the again of upper inflation in cereals, milk and fruits and slower deflation in greens costs.
Reserve Bank of India has projected the CPI inflation at 5.2 per cent for FY2023-24, with 5.1 per cent in Q1, 5.4 per cent in Q2, 5.4 per cent in Q3, and 5.2 per cent in This fall, and dangers evenly balanced.
(With inputs from PTI)
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