Retail inflation witnessed a decline, settling at 4.83 per cent in April, owing to a drop in prices of certain kitchen essentials, as per government data unveiled on Monday. The Consumer Price Index (CPI)–based retail inflation stood at 4.85 per cent in March and 4.7 per cent in April 2023.
Although there was a slight uptick in food inflation, reaching 8.70 per cent in April from 8.52 per cent in March, kitchen item costs overall experienced a decrease, as reported by the National Statistical Office (NSO).
The government has directed the Reserve Bank of India (RBI) to uphold inflation at 4 per cent, with a permissible range of 2 per cent on either side.
