Retail inflation inches up to 6-month high

NEW DELHI: Retail

inflation

inched up marginally to a six-month high in

April

on the back of hardening food, fuel and vegetables prices.


But economists said the prospects of an interest rate cut by the RBI remained high as the central bank will focus to revive growth.

Data released by the Central Statistics Office (CSO) on Monday showed inflation, measured by the consumer price index, rose an annual 2.9% in April, slightly faster than the 2.8% in the previous month. But it remained well below the central bank’s target for the ninth consecutive month.

Food prices rose to a ninemonth high, while fuel prices shot up to a four-month high.

Core inflation

, which does not include food and fuel, eased to a 21-month low.

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