
India’s Consumer Price Index (CPI) inflation fell to a 10-month low of 4.85% in March against 5.09% in the previous month, data released by the Ministry of Statistics and Programme Implementation on Friday showed. A poll from Reuters had expected the number to fall to 4.91% in March. Inflation has been within the RBI’s acceptable band of 4% (+/-2%) since September of 2023.
The Food and beverage inflation came in at 7.6% in March as against 7.8% reported in the month of February, data showed. Vegetable prices came in higher at 28.3% in March but a tad lower than 30.2% in the previous month.
“The elephant in the room was CPI inflation. The elephant has now gone out for a walk and appears to be returning to the forest,” RBI Governor Shaktikanta Das said in its latest monetary policy speech.