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India’s consumer price index (CPI)-based inflation fell to 4.25 per cent in May, data from the Ministry of Statistics and Programme Implementation (MoSPI) showed on Monday. In the month of April, the retail inflation was 4.7 per cent.
The food inflation also eased to 2.91 per cent in April. It was 3.84 per cent in the month of April.
The Index of Industrial Production (IIP) rose sharply to 4.2 per cent in April. It was 1.1 per cent in March.
April’s inflation numbers were the lowest in 18 months. It was for the second month in a row that retail inflation remained within the Reserve Bank of India (RBI)’s comfort zone of below six per cent.
The RBI has projected the CPI-based inflation at 5.2 per cent for FY23-24, with 5.1 per cent in Q1, 5.4 per cent in Q2, 5.4 per cent in Q3, and 5.2 per cent in Q4, and risks evenly balanced.
First Published: Jun 12 2023 | 5:35 PM IST
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