India’s Retail Inflation Surges To 8-Year Record High Of 7.79% In April as Food, Fuel Prices Spike

The #RetailInflation in India surged to an eight-year high of 7.79 per cent in April this year, which may prompt the Reserve Bank to go in for another interest #RateHike in the next month policy review to tame #PriceRise. To contain inflation going out of control, #ReserveBank has raised its key lending rate off record lows at an off-cycle meeting earlier in May. The surge is largely driven by rising fuel and food prices.
The retail inflation stayed well above the #ReserveBankOfIndia's upper tolerance limit for a fourth consecutive month due to #HighFuel and #FoodPrices amidst war in #Ukraine.
#UkraineRussiaWar #RBI #PriceHike #FuelPriceHike