Retail inflation at 5-month low, IIP hits 4-month high – Times of India

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New Delhi: Retail inflation It fell to a five-month low in March on modest moderation. Food inflationWhile Increase in industrial production Strong infra sectors and consumer durable output hit a four-month high in February.
Data released by Office for National StatisticsAbout an hour later than the official release time, retail inflation appeared, as measured by the Consumer Price IndexAnnual growth was 4.9 percent in March, down from 5.1 percent in February. Rural inflation was higher at 5.5 percent while urban inflation was 4.1 percent. The food price index was marginally lower at 8.5 percent in March compared to 8.7 percent in the previous month.

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Vegetable prices rose by 28.3 percent year-on-year in March, while prices of pulses and produce remained stubborn at 17.7 percent, maintaining pressure.
“We forecast food inflation to remain above 7 percent in April 2024. The intensity of the upcoming heat wave could further worsen the seasonal increase in perishable commodity prices, pushing food inflation higher. A favorable monsoon will increase in importance in 2024 to keep inflation under control,” said Aditi Nair, chief economist at rating agency Icra.
Separate data released by the NSO showed industrial production rose 5.7 percent year-on-year, up from 4.1 percent in January, helped by a base effect.

Business news,Retail inflation,Office for National Statistics,Increase in industrial production,Food inflation,Consumer Price Index

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