New Delhi, May 13 (Reuters): India’s retail inflation rate eased slightly in April, partly due to lower fuel prices, although food prices remained elevated, government data showed on Monday.
Annual retail inflation (INCPIY=ECI), opens new tab in April was 4.83%, down from 4.85% in March. Economists polled by Reuters had forecast April retail inflation at 4.80%.
Food inflation, which accounts for nearly half of the overall consumer price basket, rose 8.70% in April, compared with a 8.52% rise in the previous month. Food inflation has been accelerating at over 8% year-on-year since November 2023.
The inflation rate for cereals was 8.63%, compared with 8.37% in the previous month and pulses rose 16.84%, compared with 17.71% in March. Vegetable prices rose 27.8% in the month of April.
With parts of the country experiencing a heatwave, food prices continue to pose an additional risk to India’s inflation trajectory, according to the latest Reserve Bank of India (RBI)bulletin.
In April, fuel and power prices fell 4.24% compared with a fall of 3.24% in the previous month.
This report is given by Reuters. The Sen Times holds no responsibility for its content.