The country’s retail inflation in April accelerated to an eight-year high of 7.79 per cent, on continued high food prices. Inflation in the food basket rose to 8.38 per cent in April, from 7.68 per cent in the preceding month and 1.96 per cent in the year-ago month.
The latest retail inflation rate in April remains above the RBI’s comfort zone of 2-6 per cent. This is the fourth consecutive month when the Consumer Price Index (CPI)-based inflation is beyond the central bank’s target limit.
The CPI-based inflation in March this year stood at 6.95 per cent, and was at 4.23 per cent in April last year.
Meanwhile, the country’s industrial production rose 1.9 per cent in March this year, according to official data released on Thursday. As per the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), the manufacturing sector’s output grew 0.9 per cent in March 2022.