India’s retail inflation in April eased to an 18-month low of 4.70%, remaining within the Reserve Bank of India’s (RBI) medium-term target.
The consumer food price index (CFPI) also fell to 3.84% in April, from 4.79% in March, while rural and urban inflation stood at 4.68% and 4.85%, respectively.
The RBI has increased the repo rate by 250 basis points since May 2021 to keep inflation under control, and it currently stands at 6.50%. In separate data released by the National Statistical Office, India’s industrial output grew by 1.1% in March, with manufacturing output rising 0.5%, while mining output increased by 6.8% during the same period.
Power output fell by 1.6% in March, and the IIP grew 5.1% in fiscal 2022-23, down from 11.4% in FY2021-22.
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