April respite: India's retail inflation slides to 3.16% from 3.34% in March

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April respite: India's retail inflation slides to 3.16% from 3.34% in March - Business Standard

Quick Summary:

Fruit prices also rose 13.8 per cent, the fourth double-digit print in as many months.“The prices of edible oils remain a key concern, especially given the contraction in the sowing of oil seeds, an increase in global edible oil prices, and import dependency,” said Rajani Sinha, CareEdge Ratings’ chief economist.

While food prices may inch up this month in the wake of rising heat, economists expect overall inflation to still be benign in coming months, giving the RBI space for further interest rate cuts after effecting a 50 basis points reduction in the repo rate over its last two monetary policy meetings.

Spices and meat, which together have a 7.5 per cent weightage in the CPI, saw prices drop 3.4 per cent 0.35 per cent, respectively. However, the price rise pace for other items in the food basket, including eggs (0.83 per cent), milk (2.72 per cent), and sugar (4.59 per cent) accelerated during April.