Indian retail inflation up by 2.86 pc in March 2019
New Delhi, Apr 12 (UNI) India’s retail inflation grew to 2.86 per cent in March this year owing to marginal rise in prices of fuel products and food items, the Government announced on Friday.
The consumer price-based inflation was revised to 2.57 per cent in February, 2019.
The food price index (CFPI) was recorded at 0.30 per cent in March this year, according to the data released by the Central Statistics Office here.
In rural areas, the retail inflation was recorded at 1.80 per cent while in urban areas it was 4.10 per cent.
The fuel and light inflation grew by 2.42 per cent in March this year against 1.24 per cent in February 2019.
The vegetables inflation in March 2019 was calculated at -1.49 per cent against -7.69 per cent in February 2019. The pulses inflation also grew at -2.25 per cent in March 2019 against -3.82 per cent in February this year.
The CSO said the housing inflation lowered to 4.93 per cent in March this year against the February record of 5.1 per cent.
On April 4, the Reserve Bank of India (RBI) had slashed repo rate by 25 bps to 6 per cent and kept the stance unchanged to ‘neutral’. This is the second rate cut in 2019. The central bank has set a medium-term target of 4 per cent for consumer inflation, which is determined by Consumer Price Index.