Retail inflation hits a low of 2.99% in April

 Retail inflation fell sharply to 2.99 per cent in April, from 3.89 per cent in March, due to lower cost of food items, including pulses and vegetables that showed a deflationary trend. The consumer price index (CPI) based retail inflation for March 2017 was revised slightly upwards to 3.89 per cent, from 3.81 per cent recorded previously. 

CPI inflation stood at 5.47 per cent in April 2016. Pulses and products recorded a sharp fall in prices in April, with a deflation of 15.94 per cent, while vegetable prices fell by 8.59 per cent. The corresponding figures for March read (-)12.42 per cent and (-)7.24 per cent. 

In the fuel and light category, the inflation reading in April stood at 6.13 per cent, higher than 5.56 per cent in March. Price of fruits grew at 3.78 per cent in April, slower than 9.35 per cent in March, showed data from the Ministry of Statistics and Programme Implementation (MOSPI), which were released today. 

For cereals and products, the rate of price rise in April, at 5.06 per cent, was lower than 5.38 per cent in the previous month. For meat and fish, the inflation print came in at 1.90 per cent during the reported month, from 2.96 per cent in March.

Overall food inflation, or the rate of price increase, for April was at 0.61 per cent as against 1.93 per cent previously.