"Among the top five groups, year-on-year inflation on 'clothing and footwear' 'housing' and 'fuel and light' declined from the previous month," official data showed.
Retail inflation has now moved closer to the RBI's medium-term target of 4 per cent, after which the central bank will be in a position to cut key interest rates to boost demand and provide credit to corporates and consumers at lower interest rates. . Economic Development.
The country's CPI inflation has shown a declining trend in recent months as it has fallen from 5.09 per cent in February to 4.85 per cent in March and 5.1 per cent in January this year.
The falling trend in cooking oil prices continued in April and it declined by 9.43 per cent during the month.Spice price growth slowed to 11.4 percent in March from 13.28 percent in February.
During the month under review, pulses inflation also declined to 7.75 percent as compared to 17.71 percent in March.
However, data shows that vegetable prices rose by 27.8 per cent in April, which continues to pose a problem for consumers. The prices of grains also increased by 8.63 percent during the month under review.
Consumer price inflation is still above the RBI's medium-term target of 4 percent and is the main reason why the central bank has not cut interest rates to boost growth.The RBI is keen to keep inflation under control to ensure stability and has kept the repo rate steady at 6.5 per cent for seven consecutive times in its bi-monthly monetary policy reviews.
The RBI, in its monetary policy review on April 5, said it expects inflation to decline to 4.5 per cent in 2024-25 assuming a normal monsoon this year.
Going forward, the inflation trajectory will be shaped by the evolving fu inflation outlook.
RBI said Rabi sowing has surpassed last year's level, while vegetable prices have continued their normal seasonal recovery, albeit unevenly.
Retail inflation has now moved closer to the RBI's medium-term target of 4 per cent, after which the central bank will be in a position to cut key interest rates to boost demand and provide credit to corporates and consumers at lower interest rates. . Economic Development.
The country's CPI inflation has shown a declining trend in recent months as it has fallen from 5.09 per cent in February to 4.85 per cent in March and 5.1 per cent in January this year.
The falling trend in cooking oil prices continued in April and it declined by 9.43 per cent during the month.Spice price growth slowed to 11.4 percent in March from 13.28 percent in February.
During the month under review, pulses inflation also declined to 7.75 percent as compared to 17.71 percent in March.
However, data shows that vegetable prices rose by 27.8 per cent in April, which continues to pose a problem for consumers. The prices of grains also increased by 8.63 percent during the month under review.
Consumer price inflation is still above the RBI's medium-term target of 4 percent and is the main reason why the central bank has not cut interest rates to boost growth.The RBI is keen to keep inflation under control to ensure stability and has kept the repo rate steady at 6.5 per cent for seven consecutive times in its bi-monthly monetary policy reviews.
The RBI, in its monetary policy review on April 5, said it expects inflation to decline to 4.5 per cent in 2024-25 assuming a normal monsoon this year.
Going forward, the inflation trajectory will be shaped by the evolving fu inflation outlook.
RBI said Rabi sowing has surpassed last year's level, while vegetable prices have continued their normal seasonal recovery, albeit unevenly.
