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India's April retail inflation eases to 18-month low on softer food price
India's annual retail inflation eased to 18-month low in April, staying well below the Reserve Bank of India's (RBI) upper tolerance limit for the second consecutive month, as food prices eased. Annual retail inflation eased to 4.7% in April from 5.66% in the previous month, government data showed on Friday. This was the lowest reading since October 2021, when it hit 4.48%, and also lower than Reuters' forecast of 4.80%. The Reserve Bank of India (RBI) targets an inflation range of 2%-6%. "This (April inflation number) gives me and my colleagues in the RBI reasonable amount of confidence, I would say good amount of confidence, that the monetary policy is on the right track," RBI governor Shaktikanta Das said at an event in Mumbai after the data was released. Source - https://www.reuters.com/world/india/indias-retail-inflation-eases-19-month-low-april-2023-05-12/
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