Retail inflation eases slightly in April, food inflation rises

livemint.com:

Mint poll of 22 economists had estimated India's retail inflation to remain broadly unchanged at 4.87% in April. CPI inflation remained above the central bank’s target of 4% but has stayed within its tolerance range of 2-6% for the eighth consecutive month. Overall, food inflation was 8.70% in April, up from 8.52% in March, and 8.66% in February, due to a rise in the prices of cereals, meat and fish, and fruit.

However, inflation was lower on vegetables, pulses, sugar and spices, as compared with the previous month. Cereal prices rose 8.63% in April, against 8.4% in March. Inflation in meat and fish was 8.17%, compared with 6.4% in the previous month, while egg prices rose by 7.08%, as against 10.3% in March.

During April, the prices of milk and milk products were up 2.97%, as compared with 3.38% in March. While oils and fats declined 9.43% in April, as compared with an 11.7% decline in the previous month, vegetable prices rose 27.8%, against a 28.34% rise in March. Food inflation, measured by the consumer food price index, accounts for nearly half of the overall consumer price basket.

It stood at 8.3% in January and 9.53% in December. Overall, food and beverage inflation rose 7.87% in April, compared with 7.68% in the previous month. Fuel and light inflation fell 4.24% in April, compared with a decline of 3.24% in March.