December 05, 2024 06:25 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Devendra Fadnavis picked as BJP legislative party head, set to be Maharashtra CM | Rahul Gandhi, Priyanka Gandhi Vadra's visit to violence-hit Sambhal thwarted | Man tries to shoot Shiromani Akali Dal leader Sukhbir Singh Badal at entrance of Golden Temple, arrested | Joe Biden announces $1 billion humanitarian assistance for 31 African countries during his visit to Angola | South Korean president lifts martial law order hours after imposing it
India's March retail inflation drops to 4.85%, lowest in 10 months
Photo Courtesy: Pixabay

India's March retail inflation drops to 4.85%, lowest in 10 months

| @indiablooms | 12 Apr 2024, 09:26 pm

New Delhi: India's primary retail inflation rate dropped to its lowest point in ten months at 4.85 percent in March, according to data released by the Ministry of Statistics and Programme Implementation on Friday.

In February, the Consumer Price Index (CPI) inflation rate was recorded at 5.09 percent.

This recent figure of 4.85 percent marks the lowest headline retail inflation rate since May 2023, when it was reported at 4.31 percent.

A Reuters survey of Economists had expected a slightly higher figure of 4.91 percent for March, making the actual outcome lower than expectations.

This update on inflation follows closely after the RBI's Monetary Policy Committee (MPC) decision on April 5 to maintain the policy repo rate at 6.5 percent for the seventh consecutive time.

As per the central bank's latest projection, CPI inflation is expected to hover around 4.5 percent for the current fiscal year.

While the Consumer Price Index (CPI) inflation has persisted within the Reserve Bank of India's (RBI) acceptable range of 2 percent to 6 percent for the seventh consecutive month, it has remained above the medium-term target of 4 percent for 54 consecutive months.

In March, the internal components of CPI showed slight changes.

Food inflation saw a marginal decrease, with the index registering 8.52 percent, down from 8.66 percent in the previous month.

However, prices of cereals rose to 8.37 percent from 7.60 percent, and meat and fish prices increased to 6.36 percent compared to 5.21 percent in February.

Conversely, there was a slight decline in the prices of vegetables and pulses.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.