Retail inflation rises in March, food prices soar

IANS Photo
IANS Photo

NEW DELHI, APRIL 12 (IANS): India's retail inflation marginally rose in March as the Consumer Price Index (CPI) increased to 5.52 per cent from 5.03 per cent in February.

Data furnished by the National Statistical Office (NSO) showed that CPI Urban rose 0.26 per cent in March, whereas the CPI Rural remained static.

As per the National Statistical Office's data, Consumer Food Price Index increased to 4.94 per cent in March from a rise of 3.87 per cent in February.

Rising retail cost was a major factor in the Reserve Bank of India's recent decision to keep the repo rate on hold, as low lending rates can potentially stroke inflation.

In its bi-monthly monetary policy meeting in April, the RBI kept its key interest rates unchanged and decided to maintain its accommodative monetary policy stance to support growth amid the pandemic.