• By PTI
  • Fri, 12 Apr 2024 07:15 PM (IST)
  • Source:PTI

Retail Inflation In March:  Retail inflation declined to a five-month low of 4.85 percent in March mainly due to cooling food prices, according to official data released on Friday. The Consumer Price Index (CPI) based retail inflation was 5.09 percent in February and 5.66 percent in March 2023. Previously, CPI-based inflation was the lowest at 4.87 percent in October 2023.

The inflation in the food basket was at 8.52 percent in March, down from 8.66 percent in February, according to the data released by the National Statistical Office (NSO).

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The government has tasked the Reserve Bank to ensure inflation remains at 4 percent, with a margin of 2 percent on either side.
According to the Reserve Bank, which factors in consumer inflation while arriving at its bi-monthly monetary policy, food price uncertainties continue to weigh on the inflation trajectory going forward. The central bank has projected retail inflation at 4.5 percent for the current fiscal assuming a normal monsoon.

Continuing geopolitical tensions also pose an upside risk to commodity prices and supply chains. The RBI projected inflation at 4.9 percent in the April-June quarter and at 3.8 percent for the September quarter. 

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Disclaimer: This story has been directly published from the agency feed. No changes have been made.