Retail inflation accelerates to 5.52% in March; February industrial output shrinks 3.6% – Times of India

NEW DELHI: Retail inflation based on consumer price index (CPI) climbed to 5.52 per cent in March from 5.03 per cent in February, government data showed on Monday.
The rate of price rise in the food basket accelerated to 4.94 per cent in March, as against 3.87 per cent in the preceding month.
Inflation in ‘fuel and light’ category was 4.50 per cent during the month as against 3.53 per cent in February.
Earlier this month, the Reserve Bank of India (RBI) had projected the retail inflation at 5 per cent in the January-March quarter of 2020-21 and 5.2 per cent in the first two quarters of the current fiscal.

The RBI mainly factors in the retail inflation while arriving at its bi-monthly monetary policy.
The RBI’s monetary policy committee (MPC) has been tasked by the government to tame retail inflation based on consumer price index (CPI) at 4 per cent (+,-2 per cent).
Another set of government data released showed that India’s industrial output contracted 3.6 per cent in February from a year earlier.
(With inputs from agencies)

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