India’s retail inflation inched up to 3.48 per cent in April this year on an annual basis, rising for the fourth consecutive month under the new series. The inflation print was slightly higher from 3.4 per cent recorded in March.
According to data released by the Ministry of Statistics and Programme Implementation, inflation in rural areas edged up to 3.74 per cent, while in urban regions it rose marginally to 3.16 per cent. The food inflation rate, based on the All India Consumer Food Price Index, stood at 4.2 per cent last month, up from 3.87 per cent in the preceding month. Despite global volatility in energy markets linked to developments in West Asia, domestic inflation remained within the Reserve Bank of India’s tolerance limit.
The top items showing high inflation at the all India combined level included Silver, Gold, Diamond and Platinum jewellery, Coconut, Tomato and Cauliflower. In contrast, items with lowest inflation included Potato, Onion, Motor Car and Jeep, Peas, Chickpeas and Air conditioner. According to the data, the increase in inflation in the previous month was mainly attributed to rising prices in personal care, social protection, tobacco, intoxicants, restaurants and accommodation services.