Experts believe that the easing of prices marks the end of the central bank's rate tightening cycle, with no more rate hikes expected this year.
Helped by decline in food prices, the retail inflation fell to an 18-month low of 4.7% in April, showed the data released on Friday. Also, industrial production growth slipped to a five-month low of 1.1% in March from 5.8% in February 2023.
It was the second month in a row that Consumer Price Index (CPI)-based inflation remained within the RBI's comfort zone of below 6%. The retail inflation based on CPI was 5.66% in March 2023 and 7.79% in the year-ago period.
This story is from the May 15, 2023 edition of The Morning Standard.
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This story is from the May 15, 2023 edition of The Morning Standard.
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