Retail inflation eases to 4.83% in April, surge in food prices continues

Retail inflation eased to 4.83 per cent in April as prices of some kitchen items declined, according to government data released on Monday. The Consumer Price Index (CPI) based retail inflation was 4.85 per cent in March. It was 4.7 per cent in April 2023. Inflation in the food basket was at 8.70 per cent in April, marginally up from 8.52 per cent in March, according to the data released by the National Statistical Office (NSO). The government has tasked the Reserve Bank to ensure inflation remains at 4 per cent, with a margin of 2 per cent on either side. According to the Reserve Bank, which factors in consumer inflation while arriving at its bi-monthly monetary policy, food price uncertainties continue to weigh on the inflation trajectory going forward.