Inflation figures for the month of April have come intimidating. According to the data released by the government on Thursday, the Consumer Price Index (CPI) or retail inflation rate in the month of April stood at 7.79 percent. It had grown at a rate of 6.95 percent in March last month. On the inflation front, the common people of the country have once again suffered a major setback.
In fact, retail inflation has increased more than expected in the month of April. According to the data released by the government on Thursday, the Consumer Price Index (CPI) in the month of April stood at 7.79 percent. This figure for retail inflation is the highest in the last eight years. Retail inflation has risen on the back of a sharp rise in food prices and has remained above the Reserve Bank's target upper limit for the fourth consecutive month. Inflation based on the Consumer Price Index (CPI) stood at 6.95 percent in March this year and was 4.23 percent in April 2021.
The special thing is that food inflation rose to 8.38 percent in April, from 7.68 percent in the previous month and 1.96 percent in the same month a year ago. The government has asked the Reserve Bank of India (RBI) to ensure that inflation remains at the level of 4 percent, which can fluctuate up and down by 2 percent. Retail inflation has remained above 6 percent since January. Even before the release of retail inflation data, experts had predicted that its rate could increase to 7.5 percent in April, but the figures that came out turned out to be more than the forecast. Significantly, the CPI is already running above the target set by the government.