April Retail Inflation

Sharp drop in prices of vegetables and pulses cools food inflation to 42-month low

CPI-based inflation has now stayed below the Reserve Bank of India's medium-term target of 4% for the third consecutive month

In the previous trading session, Sensex jumped 2,975.43 points, or 3.7 per cent, to close at 82,429.90 levels. The Nifty50 closed at 24,924.7, up by 916.7 points, or 3.8 per cent.

In March, retail inflation stood at 3.34 per cent- the lowest since August 2019

While headline inflation has moderated in recent months, food prices, which account for nearly half the consumer price index (CPI) basket, have remained elevated, squeezing household budgets

Das stressed that RBI may consider rate cuts only once retail inflation eases towards the RBI's 4% target on a sustainable basis

The footwear category grew as well but was not among the better-performing verticals with a year-on-year sales growth of 2-3% in May

For April 2023, only 2,844 units were sold against 18,826 units sold in April 2022

Prices of the safe haven asset have soared due to global economic uncertainty

April was the sixth straight month in which inflation was higher than the Reserve Bank of India's medium-term target of 4 per cent.