India's retail inflation eases to 15-month low

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New Delhi: India’s retail inflation, as measured by the Consumer Price Index (CPI), eased to 15-month low to 5.66 per cent in March 2023.

India’s CPI was 6.44 per cent in the month of February and 6.95 per cent reported in the year-ago period, National Statistics Office (NSO) data said on Wednesday.

Though the retail inflation for March 2023 was within Reserve Bank of India’s (RBI) target band of 4 to 6 per cent, it came as a big respite.

The retail inflation rose from 5.7 per cent in December 2022 to 6.4 per cent in February 2023 on the back of higher inflation in cereals, milk and fruits and slower deflation in vegetables prices.

India’s factory output data

Meanwhile, India’s factory output, based on the Index of Industrial Production (IIP), rose by 5.6 per cent year-on-year.

India’s manufacturing sector’s output increased 5.3 per cent in February and mining output grew 4.6 per cent.

India’s rural & urban inflation

The country’s rural inflation for March 2023 was at 5.51 per cent, while urban inflation was at 5.89 per cent.

Consumer Food Price Index

India’s Consumer Food Price Index (CFPI) declined to 4.79 per cent as compared to 5.95 per cent a month ago.

Inflation in food basket

The inflation in the food basket was 4.79 per cent in March, as against 5.95 per cent in February and 7.68 per cent in the year-ago period.

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Umang Sharma

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