According to government data released, India’s retail inflation based on the consumer price index decreased to 4.7% in April from 5.66% in the previous month due to lower food and fuel prices. This is the lowest inflation rate in 18 months and falls within the Reserve Bank of India‘s acceptable range of 2-6% for the second consecutive month.
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The RBI is expected to keep policy rates unchanged in its review in the first week of June due to the moderation in inflationary pressure, including the decline in core inflation. In its last meeting in the first week of April, the RBI’s Monetary Policy Committee decided to maintain the policy repo rate.
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