Retail inflation rose to 5.52 % in March, primarily on account of upper meals costs, authorities knowledge confirmed on Monday.
The shopper worth index (CPI) primarily based on retail inflation stood at 5.03 % in February.
The price of worth rise in the meals basket accelerated to 4.94 % in March, as towards 3.87 % in the previous month, as per knowledge launched by the National Statistical Office (NSO).
Inflation in the ‘gasoline and lightweight’ class was 4.50 % in the course of the month vis-a-vis 3.53 % in February.
Earlier this month, the Reserve Bank of India had projected the retail inflation at 5 % in the January-March quarter of 2020-21 and 5.2 % in the primary two-quarters of the present fiscal.
After breaching the higher tolerance threshold of 6 % for six consecutive months (June-November 2020), CPI inflation fell in December 2020 and eased additional in January 2021 to 4.1 % on the again of a pointy correction in vegetable costs and softening of cereal costs.
However, it rebounded to 5 % in February, pushed primarily by base results.
The Reserve Bank, which primarily components in the retail inflation whereas arriving at its financial coverage, has been requested to hold CPI inflation at 4 % with a margin of two % on both aspect.
The central financial institution retained the important thing lending price (repo) in its final financial coverage citing inflationary considerations.
