Retail Inflation Eases To 5.66% In March, Comes Under RBI’s Comfort Zone; IIP Rises 5.6% In February

The retail inflation, based on Consumer Price Index (CPI), had stood at 6.44 per cent in February 2023 and 6.95 per cent in March 2022.

The retail inflation, based on Consumer Price Index (CPI), had stood at 6.44 per cent in February 2023 and 6.95 per cent in March 2022.

Retail inflation in March 2023: The inflation in the food basket was 4.79 per cent in March, as against 5.95 per cent in February and 7.68 per cent in the year-ago period

India’s CPI inflation in March 2023 declined to 5.66 per cent, according to latest official data released on Wednesday. With this, the retail inflation has come under the RBI’s tolerance limit of 2-6 per cent. India’s industrial production based on IIP also rose 5.6 per cent in February 2023.

The retail inflation, based on Consumer Price Index (CPI), had stood at 6.44 per cent in February 2023 and 6.95 per cent in March 2022.

According to the National Statistical Office, the inflation in the food basket was 4.79 per cent in March, as against 5.95 per cent in February and 7.68 per cent in the year-ago period.

The retail inflation rose from 5.7 per cent in December 2022 to 6.4 per cent in February 2023 on the back of higher inflation in cereals, milk and fruits and slower deflation in vegetables prices.

Reserve Bank of India has projected the CPI inflation at 5.2 per cent for FY2023-24, 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.

Industrial Production Rises 5.6%

India’s industrial production rose 5.6 per cent in February 2023, according to official data released on Wednesday. Factory output based on the Index of Industrial Production (IIP) grew 1.2 per cent in February 2022.

The data released by the National Statistical Office (NSO) showed that the manufacturing sector’s output increased 5.3 per cent in February 2023. Mining output rose 4.6 per cent and power generation surged 8.2 per cent during the month under review.

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