This is the third consecutive month in which inflation has crossed the 6 per cent upper limit mandated by the Reserve Bank of India (RBI). know the details
This is the third consecutive month in which inflation has crossed the 6 per cent upper limit mandated by the Reserve Bank of India (RBI). know the details
- Last Update:April 12, 2022, 5:47 pm IST
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Retail inflation rose to 6.95 per cent in March, indicating continued food price growth, government data showed on Tuesday. Inflation as measured by the CPI (Consumer Price Index) stood at 6.07 per cent in the month of February. The Consumer Price Index (CPI) inflation print for March is well above the consensus estimate. Economists had expected CPI inflation to rise to 6.35 percent, according to a Reuters poll.
Food inflation rose to 7.68 per cent in the month under review as compared to 5.85 per cent in February.
This is the third consecutive month in which inflation has crossed the 6 per cent upper limit of the Reserve Bank of India’s (RBI) mandate, from an average of 6.4 per cent in January-March. As such, the Monetary Policy Committee (MPC) will fail to fulfill its mandate due to inflation exceeding 6 per cent in April-June and July-September.
The latest RBI forecast puts average CPI inflation at 6.3 per cent in April-June and 5.8 per cent in July-September.
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