Good days ahead for India! India’s retail inflation fell to a six-year low of 3.16% in April, compared to 3.34% in March, largely due to continued declines in food prices. For the third straight month, India’s retail inflation has stayed below the Reserve Bank of India’s 4% medium-term target, reaching a six-year low of 3.16% in April. According to reports, food inflation, comprising nearly half of the Consumer Price Index (CPI) basket, decreased to 1.78% in April from 2.69% in March.
In April, rural inflation eased to 2.92% from 3.25% in March, and urban inflation fell to 3.36% from 3.43% the previous month. With inflation expected to remain low, the RBI gains flexibility to lower interest rates to bolster the slowing economy.
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Source: The Economic Times