The Country's Inflation Has Eased, With Inflation At An 18-month Low

Soothing figures of falling inflation in the country. Inflation, based on retail prices, hit an 18-month low in April last year. But industrial production is at a five-month low. These figures are based on the month of March. According to the data released by the National Statistical Organization (NSO), the country’s Consumer Price Index-based retail inflation rate increased by 4.7% year-on-year in April. It was 5.7% in the previous month. This is below the Reserve Bank’s estimated limit of 6%.

Can credit card EMIs stack up? CREDIT CARD EMI

Food price index was 4.8% last March. It fell to 3.8% in April. Inflation in urban areas remains high at 4.9%. At the same time the inflation rate in rural areas is 4.7%.

Figures indicate that there has been relief in the prices of many important food items. Lower prices of food items and fuel are the main reasons behind the fall in inflation. Low availability of energy and low prices of food grains and vegetables helped to reduce inflation. At the same time, there has been no decrease in prices of food grains, spices, personal care products, textiles, footwear etc.

Also Read: Earning crores through YouTube; A YouTuber who bought his own ‘neighborhood’
Monsoon is of great importance in determining the rate of inflation in the country. Climatic phenomena including El Nino may influence the distribution of monsoons across the country.
Such factors related to the agriculture sector can have a major impact on inflation.

Also Read: Are there senior citizens at home? The financial benefits are numerous
In other figures released by the NSO, the industrial production index of the country recorded a decline. The growth rate eased to 1.1% in March. It was 5.8% in the previous month. This is a 2.2% decline from March 2021-22. In the growth rate of the manufacturing sector, a decline of 0.5% was recorded in March. This is a growth of 1.4% in the same period of the previous year. In March 2021-22, the electricity sector recorded a growth of 6.1%. It shrank to 1.6% last March.