According to the data released by the Ministry of Statistics and Programme Implementation, rural inflation stood at 5.51 per cent while urban inflation was at 5.89 per cent in March. In February this year, it was 6.72 per cent and 6.10 per cent for rural and urban inflation respectively.<
Indian stock indices opened Wednesday's trade marginally higher as investors await retail inflation data for March (both for India and the US) later in the day.
Indian stock indices opened Tuesday's trade on a positive note, largely due to the pause in an interest rate hike by RBI which brought cheers among investors.
The Reserve Bank of India, in its monthly bulletin on Tuesday, noted that consumer price inflation (or retail inflation) in India remained high while core inflation defied to reflect the softening of various input costs.
The ministry of labour and employment said this increase was due to the increase in prices of medicine, doctor's fees, barber charges, bus fare, washing shops, cinema tickets, etc.
Notably, wholesale inflation in India based on the Wholesale Price Index continued to moderate and was at 3.85 per cent (provisional) in February 2023, against the previous month's 4.73 per cent. Overall wholesale inflation was at 8.39 in October and has been falling since then. Notably, the
Retail inflation in India fell marginally but remained above RBI's 6 per cent upper tolerance band for the second straight month in February, with the Consumer Price Index pegged at 6.44 per cent, government data showed.
Retail inflation in India remained above RBI's upper tolerance band for the second straight month in February 2023, with the Consumer Price Index pegged at 6.44 per cent, government data released on Monday showed.
On January 25, the government announced its agency FCI would offload 30 lakh tonnes of wheat from the central pool in the markets under the Open Market Sale Scheme, within the next two months, to contain the rising domestic prices of the staple foodgrain.
On January 25, the government said FCI would offload 30 lakh tonnes of wheat from the central pool in the markets under the Open Market Sale Scheme, within the next two months, for containing the rising domestic prices of the staple foodgrain.
India's retail inflation was above RBI's six per cent target for three consecutive quarters and had managed to fall back to the RBI's comfort zone only in November 2022.