New Delhi: Government data revealed that the retail inflation in the country has eased to an 18-month low in April. As per the Ministry of Statistics and Programme Implementation data, retail inflation, based on the Consumer Price Index (CPI), eased to 4.70% in April 2023. Retail inflation stood at 7.79% in April previous year.
Consumer Food Price Index (CFPI) fell to 3.84%, as compared to 4.79% in the previous month and 8.31% in April 2022. The Rural inflation in April stood at 4.68%, while urban inflation was at 4.85%.
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It was for the second month in a row that the consumer price index (CPI) based inflation remained within the Reserve Bank of India’s (RBI) comfort zone of below 6 per cent. The RBI has projected the CPI inflation at 5.2% for fiscal 2024.
India’s CPI inflation in March 2023 declined to 5.66%. The retail inflation had stood at 6.44% in February 2023.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
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