Categories: Economy

Retail inflation moderates to 5.66% in March from 6.44% in February

India’s Annual Retail Inflation for March Eases Below Central Bank’s Tolerance Level for the First Time in 2023. According to the NSO data, India’s annual retail inflation for March eased to 5.66% from 6.44% in February. This is a positive development for the economy, as it indicates that inflationary pressures may be easing. The central bank’s upper tolerance level for inflation is 6%, so the current rate is below this level, which is a welcome change.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

RBI’s Approach to Tackle the Inflation:

The central bank has raised the benchmark repurchase rate by a total of 250 basis points since May 2022 in an attempt to control rising prices.

The RBI had previously estimated the average annual retail inflation for the last fiscal year to be 6.5%. Despite concerns about core inflation, which remains above 6% when excluding volatile food and fuel prices, the Monetary Policy Committee, led by Governor Shaktikanta Das, surprised many by announcing that they would maintain the policy rate at 6.5%. Additionally, the MPC revised down their forecast for CPI inflation from 5.3% to 5.2%.

Find More News on Economy Here

 

Piyush Shukla

Recent Posts

How many Cricket Players are retained in IPL 2025?

The excitement for IPL 2025 is building as the 10 franchises reveal their player retentions…

14 hours ago

States and Capitals of India, List of 28 States and 8 UT’s 2024

India is a vast country in South Asia, the 7th largest by land area. It…

15 hours ago

Which States Launched Double-Decker Electric Buses?

As cities work to reduce pollution and ease traffic, using electric vehicles like buses is…

15 hours ago

Russia’s Pantsir System A Strategic Addition to India’s Defence Arsenal

India and Russia have reached a significant agreement to jointly manufacture the Pantsir air defence…

15 hours ago

IIT Madras, ISRO Collaborate on Spacecraft Thermal Research Centre

The Indian Institute of Technology Madras (IIT Madras) is teaming up with the Indian Space…

16 hours ago

Supreme Court Overturns 1967 Ruling on AMU’s Minority Status

In a historic 4-3 decision on November 8, 2024, the Supreme Court overturned its 1967…

16 hours ago