India’s retail inflation reached a 10-month low this month dropping to 4.85 percent in March 2024 from 5.09 percent in the previous month. This suggests a decrease in inflationary pressures across different sectors of the economy. New data from the National Statistical Office (NSO), part of the Ministry of Statistics and Programme Implementation (MoSPI) reveals that CPI inflation for March was 4.85 percent, slightly lower than the 5.09 percent reported in February.This suggests a more stable pricing environment, potentially offering relief to households grappling with rising costs of essential goods and services. Delving deeper into the CPI components shows that food inflation played a significant role in driving the overall moderation.
March witnessed a decrease in food inflation to 8.52 per cent, down from 8.66 percent in February. This downward trend in food prices could alleviate some of the burden on consumers, especially in the wake of recent escalations.While urban inflation decreased to 4.14 per cent in March from 4.78 percent in February, rural inflation saw a slight uptick. Rural inflation inched up to 5.45 per cent compared to 4.34 percent in February.