Tuesday, May 21 2024 | Time 04:20 Hrs(IST)
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Business Economy


India's retail inflation eases to 4.85 pc in March

India's retail inflation eases to 4.85 pc in March

New Delhi, April 12 (UNI) India's retail inflation measured by consumer price index (CPI) eased to 4.85% in March 2024 from 5.09% in the previous month, according to official data released on Friday.

The retail inflation print has remained within the Reserve Bank of India (RBI)'s tolerance band of 2-6% for seven months now.

As per data released by Ministry of Statistics & Programme Implementation (MoSPI), food inflation fell marginally to 8.52% in March this year from 8.66% in the previous month.

With inflation staying within the upper limit and also showing a declining trend, the RBI this month kept policy repo rate unchanged at 6.50% for the seventh consecutive time while reviewing the monetary policy.

The central bank has projected the CPI inflation for the current financial year (2024-25) at 4.5%.

In the month of March this year, rural inflation was at 5.45% as compared to 4.14% in urban areas.

The official data showed vegetable inflation moderated in March this year to 28.34% as against 30.25% in the previous month. Pulses and product inflation in March was at 17.71% as compared to 18.90% in the previous month.

Cereals and products inflation in March 2024 was 8.37%.

Fuel and light inflation saw a contraction of (-)3.24% in March this year.

UNI NK CS

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