Retail Inflation Declines To 5-month Low Of 4.85% In March

Hitting a 10-month low this month, India's retail inflation slipped down to 4.85 percent in March 2024, as opposed to 5.09 percent in the previous month. An earlier Reuters poll estimated the retail inflation to come down to 4.91 percent, but the rates dropped below the prediction.

India's retail inflation at a 10-month low. (MINT_PRINT)

The number has remained within the Reserve Bank of India's (RBI) tolerance band of 2-6 per cent. Food inflation, which accounts for nearly half of the overall consumer price basket, rose 8.52% in March, compared with a 8.66% rise in February. Fuel prices fell 3.2% year-on-year, compared with a 0.77% fall in February.

The official data regarding the inflation rates is yet to be released by the government, as the details are awaiting approval from the Election Commission of India (ECI), reported Reuters citing local news reports.