Retail Inflation Data: Retail inflation rate has come down to below 5 percent. Retail inflation has come down to 4.85 percent in March 2024, which was 5.09 percent in February 2024. Food inflation rate has also decreased in the month of March and it has come down to 8.52 percent as compared to 8.66 percent in February 2024.
Inflation rate below 5 percent
The Ministry of Statistics has released the retail inflation rate data for March 2024 on Friday, April 12, 2024. According to this data, the retail inflation rate has come down to 4.85 percent in the month of March which was 5.09 percent in February 2024. The retail inflation rate in March 2023 was 5.66 percent. The retail inflation rate has decreased and the food inflation rate has also declined in the month of March and it has slipped below 9 percent. Food inflation rate was 8.52 percent in the month of March which was 8.66 percent in February 2024. The food inflation rate in March 2023 was 4.79 percent.
Inflation of pulses is troubling
Although food inflation has come down, inflation in vegetables and pulses still remains high. The inflation rate of greens and vegetables was 26.38 percent in March 2024, which was 30.25 percent in February 2024. There has been a slight decrease in this. The inflation rate of pulses has increased and it was 18.99 percent in March which was 18.90 percent in February. The inflation rate of grains and related products has been 7.90 percent which was 7.60 percent in February. The inflation rate of spices has been 11.43 percent which was 13.51 percent in February. The inflation rate of fruits has been 2.67 percent which was 4.83 percent in February. So the inflation rate of sugar has been 6.73 percent and the inflation rate of eggs has been 9.59 percent.
Inflation rate is far from the tolerance band of RBI
Retail inflation rate has come down to 5 percent, although it still remains above the RBI's tolerance band of 4 percent. Announcing the monetary policy, Reserve Bank of India Governor Shaktikanta Das has said that supply chain challenges remain coupled with climate change and global geopolitical uncertainty, due to which there is a need to keep a close watch on the prices of food items. .
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