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Spike in food prices inches up India’s retail inflation to 2.92% in April

Spike in food prices inches up India's retail inflation to 2.92% in April

Retail inflation rose marginally to 2.92 per cent in April this year, mainly due to the rise in food prices. According to the Ministry of Statistics and Programme Implementation data released yesterday, the inflation based on the Consumer Price Index (CPI) was 2.86 per cent in the previous month and 4.58 per cent in April last.

According to the Central Statistics Office (CSO) data the inflation in the food basket was 1.1 per cent last month, up from 0.3 per cent in March this year. CPI-based inflation data is an important indicator of the economy as the Reserve Bank of India mainly factors in it while arriving at its monetary policy.

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