Retail Inflation: The government informed on Friday that the retail inflation in the country has come down from 5.66 per cent in March to 4.7 per cent in April.
This was the second month in a row that consumer price index (CPI)-based inflation remained within the RBI’s comfort zone of below 6 per cent.
Retail inflation based on the Consumer Price Index (CPI) stood at 5.66 per cent in March 2023 and 7.79 per cent in the year-ago period. Retail inflation in April is the lowest since October 2021, when it stood at 4.48 per cent.
According to the National Statistical Office, inflation in the food basket stood at 3.84 per cent in April, compared to 4.79 per cent in March and 8.31 per cent in the year-ago period.
Retail inflation is projected to increase from 5.7 per cent in December 2022 to 6.4 per cent in February 2023 on higher prices of cereals, milk and fruits and a slower decline in vegetable prices.
The Reserve Bank of India forecast CPI inflation for FY2023-24 at 5.2 per cent, 5.1 per cent in Q1, 5.4 per cent in Q2, 5.4 per cent in Q3 and 5.2 per cent in Q4, with risks evenly balanced.