India’s retail inflation marginally eases to 4.83% in April

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

Livemint
First Published13 May 2024
Retail inflation eases in April 2024
Retail inflation eases in April 2024

India's retail inflation slightly decreased to reach an 11-month low of 4.83 percent on an annual basis in April, compared to 4.85 percent recorded in the previous month, according to government data released on Monday.

The figure has stayed within the tolerance range of 2-6 percent set by the Reserve Bank of India (RBI). According to data from the National Statistical Office (NSO), the inflation rate within the food basket increased to 8.7 percent in April, rising from 8.52 percent recorded in March.

Also read: Stock market crash: Why is Indian stock market down today? — explained with 5 major reasons

In April, the inflation rate registered a sequential increase to 0.48 percent.

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

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

In April, the inflation rate for fuel and light experienced a contraction of -4.24 percent.

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

Also read: India CPI inflation preview: April CPI inflation likely to stay below 5%; core inflation may ease further

In the clothing & footwear sector, the inflation rate was recorded at 2.85 percent, while for the housing sector, it stood at 2.68 percent.

“CPI came in at 4.83 yoy, in line with expectations. All broader indices are well contained other than food prices , which rose by 8.7 pct. Overall in line with rbi trajectory and hence may not have any material impact on policy / markets,” said Akhil Mittal, Senior Fund Manager-Fixed Income, Tata Asset Management.

 

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