7.79% — India’s Retail Inflation Rises To 8-Year High In April

Pic courtesy Reuters

New Delhi: India’s retail inflation has jumped to an eight-year high of 7.79% in April 2022, government data has revealed.

Reserve Bank of India’s (RBI) tolerable limit of 6% has thus been breached for the fourth straight month.

Last month, the consumer price index inflation was 6.95%, the highest since September 2014.

Food inflation – caused by steep prices of edible oil and fuel — which is driving the rise in retail inflation, rose by 8.38%, highest in this financial year so far.

The figures were released by National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI).

Data was collected from 1114 urban markets and 1181 villages across all states and Union Territories on a weekly basis.

Russia’s Ukraine invasion has also had a bearing on domestic prices in India.

There are concerns of inflation mounting as global shocks pushed the Indian rupee to a record low of 77.63 on Thursday.