In April, there was a marginal decline in the retail inflation rate, settling at 4.83% based on the Consumer Price Index (CPI). This marks a slight decrease from March’s 4.85% and an increase from April 2023’s 4.3%.
According to data released by the National Statistical Office (NSO) on Monday, the retail inflation rate based on the Consumer Price Index fell to 4.83% in April. This is down from 4.85% in the previous month of March and up from 4.3% in April 2023.
According to the NSO, the decline in the retail inflation rate is attributed to a decrease in the prices of several items commonly used in households. However, according to the figures, the retail inflation rate for food items in April remained at 8.70%, slightly up from 8.52% in the previous month of March. According to the data, the inflation rate for rural areas was 5.43% and for urban areas was 4.11%.
The Reserve Bank of India (RBI) has estimated that retail inflation will remain at 4.50% for the current fiscal year 2024-25.