According to figures from the Ministry of Statistics and Programme Implementation, India’s retail inflation fell to a 15-month low of 5.66% in March.
Rural inflation in the nation was 5.51 percent in March, while urban inflation was 5.89 percent. The Consumer Food Price Index (CFPI) for India decreased from 5.95% in the previous month to 4.79% this month. Consumer pricing index (CPI)-based headline inflation in India had decreased by 6.44 percent but remained beyond the Central Bank of India’s tolerance range (RBI). India’s inflation rate increased from 5.7 percent in December 2022 to a three-month high of 6.52 percent in January 2023.
Retail inflation in the nation dropped to 5.66% in March from 6.95% in the same month of the previous year. The RBI maintained the repo rate at 6.5 percent in its most recent bimonthly monetary policy announcement last week. The central bank has also stated that it expects CPI inflation to slightly decrease to 5.2% in FY2023–2024.
India’s industrial output increased 5.6% over the previous year in March. According to the MoSPI data, factory output as expressed by the Index of Industrial Production (IIP) grew 1.2% in February 2022. In the meantime, February saw a 5.3% increase in manufacturing sector output in India and a 4.6% increase in mining sector output. The nation’s power generation surged 8.2 per cent during the same month.