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<keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">Retail inflation</keyword> fell to an 18-month low of 4.7 per cent in April mainly due to cooling food prices, government data showed on Friday. It was for the second month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 5.66 per cent in March 2023 and 7.79 per cent in the year-ago period. Retail inflation in April is the lowest since October 2021 when it was at 4.48 per cent. According to the National Statistical Office, the inflation in the food basket was 3.84 per cent in April, as against 4.79 per cent in March and 8.31 per cent in the year-ago period. Retail inflation rose from 5.7 per cent in December 2022 to 6.4 per cent in February 2023 on the back of higher prices of cereals, milk and fruits and slower deflation in vegetable prices. Reserve Bank of India has projected the CPI inflation at 5.2 per cent for FY2023-24, with 5.1 per cent in Q1, 5.4 per cent in Q2, 5.4 per cent in Q3, and 5.2 per cent in Q4, and risks evenly balanced. <keyword id="35052" type="General" weightage="20" keywordseo="industrial-production" source="Orion">Industrial production</keyword> rises 1.1 pc in March, 5.1 pc in 2022-23 fiscal India's industrial production rose 1.1 per cent in March, according to official data released on Friday. Factory output measured in terms of the Index of Industrial Production (IIP) grew 2.2 per cent in March 2022. The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output increased 0.5 per cent in March 2023. Mining output rose 6.8 per cent during the month under review. Power output declined by 1.6 in March. The IIP grew 5.1 per cent in 2022-23 as against a growth of 11.4 per cent in 2021-22.

Retail inflation declines to 18-month low of 4.7% in March; Industrial production rises 1.1%

<ul><li>India's <keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">retail inflation</keyword> in November, declined below 6%, which is in RBI's comfort zone.</li><li>India's retail inflation hit an an 11-month low in November. </li><li>The central bank had so far already hiked the key policy rate by 225 basis points since May, to 6.25%. </li></ul>New Delhi [India], December 12 (ANI): India's retail inflation rate based on Consumer Price Index declined to 5.88 per cent in November from 6.77 per cent during the previous month, according to data released on Monday by the ministry of statistics. This essentially means retail inflation in India is now at an 11-month low and it declined below 6 per cent, which is in RBI's comfort zone. The central bank had so far already hiked the key policy rate by 225 basis points since May to 6.25 per cent to cool off domestic retail inflation that has stayed above the RBI's upper tolerance limit for over three quarters now. Under the flexible inflation targeting framework introduced in 2016, the RBI is deemed to have failed in managing price rises if the CPI-based inflation is outside the 2-6 per cent range for three quarters in a row. An out-of-turn meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India was held in early November to discuss and draft the report to be sent to the central government for having failed in maintaining the inflation mandate. The meeting was called under Section 45ZN of the Reserve Bank of India (RBI) Act 1934, which pertains to steps to be taken if the central bank fails to meet its inflation-targeting mandate. Further details about the special meeting are not officially in the public domain.

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Retail inflation declines to 18-month low of 4.7% in March; Industrial production rises 1.1%

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India's November retail inflation at 5.88%, within RBI's comfort band

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