Retail inflation eases to 4.29% in April, industrial output for March grows by 22.4%
The retail inflation in April was within the Reserve Bank of India’s range of 2% to 6%, for the fifth straight month.
Retail inflation, which is measured by the Consumer Price Index, slowed to 4.29% in April from 5.52% recorded in March, owing to a drop in food prices, government data showed on Wednesday. On a monthly basis, the index rose by 0.7% as the gauge climbed to 157.9 in April from 156.8 in March.
The retail inflation in April was within the Reserve Bank of India’s range of 2% to 6%, for the fifth straight month, according to NDTV.
Inflation in food and beverages was at 2.66% in April compared with 5.24% in March. Cereal prices fell by 2.96%, while vegetable prices contracted 14.18% in a year.
Besides this, the inflation in the “fuel and light” category remained high at 7.91% per cent in April, while the tobacco, pan, and intoxicants category registered an inflation rate of 9.01%, as per the data by the National Statistical Office.
Meanwhile, the industrial output as measured by the Index of Industrial Production grew 22.4% in the month of March as compared to 16.7% last year when the country was forced into a countrywide lockdown to contain the coronavirus pandemic. This was mostly led by the growth in the manufacturing sector.
Mining output rose by 6.1% over last year. The index rose to 139 in March compared to 117.9 in February. Manufacturing output was 25.8% higher than a year ago. The index rose 8.5% month-on-month as well. Electricity generation was 22.5% higher than a year ago, government data showed.