New Delhi: Retail inflation based on the Consumer Price Index (CPI) has cooled down in March this year. Data released by the National Statistical Office revealed this.
As per the government data, India’s CPI inflation in March 2023 declined to 5.66%. Thus, the retail inflation has come under the RBI’s tolerance limit of 2-6%. The retail inflation had stood at 6.44% in February 2023 and 6.95% in March 2022. The inflation in the food basket was 4.79% in March. It was at 5.95% in February and 7.68% in the year-ago period. The retail inflation in both rural and urban areas eased in March 2023, to 5.51% and 5.89%, respectively.
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Meanwhile, the industrial production based on IIP also rose 5.6% in February 2023. The manufacturing sector’s output increased 5.3% in February 2023. Mining output rose 4.6% and power generation surged 8.2% during February.
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