Retail inflation accelerates to 7.79% in April; March IIP growth at 1.9%

The jump in CPI inflation has been long anticipated following the Central govt's decision to wait until after key state elections in March to hike fuel prices

Driven by rising food and fuel prices, India's retail inflation soared to an eight-year high of 7.79% in April this year, which may prompt the Reserve Bank to go in for another interest rate hike in the next month policy review to tame price rise.

The previous high in the consumer price index (CPI)-based retail inflation was recorded at 8.33% in May 2014.

The jump in CPI inflation has been long anticipated following the Centre's decision to wait until after key state elections in March to hike fuel prices. Energy prices globally have soared since Russia's invasion of Ukraine in late February.

India's