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India's retail inflation eases to 11-month low of 4.83% in April
Retail Inflation
Photo Courtesy: Representational image by Fowler&fowler via Wikimedia Commons

India's retail inflation eases to 11-month low of 4.83% in April

| @indiablooms | 14 May 2024, 12:09 pm

Mumbai/IBNS: India's retail inflation slightly eased to an 11-month low of 4.83 percent in April, compared to 4.85 percent recorded in the previous month, as prices of some kitchen items dropped though overall food basket firmed up marginally, according to a government data released on Monday (May 13).

Reports said that the figure has stayed within the tolerance range of 2-6 percent set by the Reserve Bank of India (RBI).

The inflation rate within the food basket increased to 8.7 percent in April, rising from 8.52 percent recorded in March, according to data from the National Statistical Office (NSO).

The inflation rate, in April, registered a sequential increase to 0.48 percent, as per media reports.

In India, the year-on-year vegetable inflation rate was recorded at 27.80 percent, marginally lower than the 28.30 percent reported in March, while the inflation rates for cereals and pulses -- two integral components of India's staple diet -- were reported at 8.63 percent and 16.84 percent, respectively.

Meat and fish prices increased to 8.17 percent from 6.36 percent a month earlier, while fruit prices increased to 5.22 percent from 3.07 percent in March.

Meanwhile, there was a slight drop in the prices of vegetables and pulses.

The inflation rate for fuel and light experienced a contraction of -4.24 percent in April.

"Among the top five groups, the year-on-year inflation on groups ‘Clothing & Footwear’, ‘Housing’ and ‘Fuel & light’ has decreased since last month," the official NSO release read.

In April, the inflation rate in the clothing and footwear sector was recorded at 2.85 percent, while for the housing sector, it stood at 2.68 percent, as reported by NSO.

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