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Retail inflation rate fell to 3.16% in April; Know how many years' record was broken
There is some relief news on the inflation front. Retail inflation rate has fallen to a 70-month low. It was recorded at 3.16% in April. Experts say that due to the low inflation rate, there is almost a 100 percent possibility that the RBI will cut the repo rate in the upcoming meeting of the Monetary Policy Committee.
As the price of vegetables, the price of pulses, and the price of spices have fallen, the retail price inflation for the month of April stood at a 70-month low of 3.16%. That is, a six-year record has been broken. The retail price inflation for the month of July 2019 was 3.15%.
In October last year, the retail price rise stood at 10.87%, but since then, the retail price rise has been declining consistently. The retail price rise stood at 3.34% this March. The retail price rise of food products eased to 1.78% in April, the weakest since October 2021.
The food item retail inflation fell to 2.69% in March this year. Following the retail inflation dropping to a six-year low, the RBI is likely to reduce the interest rates for the second time this coming June.
