Gold ornaments raise retail inflation in personal care segment to 9% in Apr

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

A 22-month high retail price inflation in gold ornaments pushed the rate of price rise in the personal care segment to nine per cent in April, from 8.25 per cent in March even as overall inflation eased to a 18-month low of 4.70 per cent in the first month of 2023-24.

This was despite the fact that the segment, called personal care and effects, had a high base effect in April last year. Inflation in the segment, which has a weight of 4.25 per cent in the consumer price index (CPI), stood at 8.62 per cent that month.  

The CPI-based inflation