April's retail inflation eases to 4.7%, an 18-month low

Retail inflation in India fell to an 18-month low of 4.7% in April, government data showed.

For the second month in a row, Consumer Price Index (CPI)-based inflation remained below the RBI's comfort zone. According to the Consumer Price Index (CPI), retail inflation was 5.66 percent in March 2023 and 7.79 percent a year earlier. April's retail inflation rate is the lowest since October 2021 at 4.48 percent.

As reported by the National Statistical Office, food basket inflation was 3.84 percent in April, up from 4.79 percent in March and 8.31 percent a year earlier.

Consumer prices jumped from 5.7 percent in December 2022 to 6.4 percent in February 2023 as cereals, milk and fruits rose, and vegetable prices deflated slower.