March retail inflation slides to six-month low of 4.83%
Retail inflation in March fell to a six-month low of 4.83 per cent on account of cheaper food articles such as vegetables and pulses. The retail inflation, measured on Consumer Price Index (CPI), in February was revised upwards to 5.26 per cent from 5.18. Consumer inflation was seen below this level at 4.41 per cent in September 2015. Food inflation for March too softened at 5.21 per cent, showed the data released by the Ministry of Statistics and Programme Implementation (MoSPI). In February, food inflation was at 5.30 per cent. The rate of price rise in vegetables was at 0.54 per cent, oils and fats 4.85 per cent, milk and products 3.33 per cent, while fruit prices deflated further at (-)1.10 per cent in March. Pulses too turned cheaper, as the inflation print came in at 34.15 per cent during the month. However, inflation in sugar and confectionery shot up at 3.92 per cent in March (from 0.51 per cent in February). And for pan tobacco and intoxicants, the inflation stood at 8.51 per cent (over 8.39 per cent). Retail price rise of cereals and products rose to 2.43 per cent and that for meat and fish category, it moved up slightly with an inflation print of 7.74 per cent. Likewise, prices of eggs shot up further during the month with inflation standing at 6.68 per cent. The inflation rate, based on CPI for rural areas, stood at 5.70 per cent, while that for urban areas was at 3.95 per cent. The prices are collected by the government from selected towns by the Field Operations Division of National Sample Survey Organisation (NSSO) and from selected villages by the Department of Posts.