New Delhi, Leading News Service: In the month of March, when the heat of summer started to be felt, the heat of inflation has reduced. The inflation rate was recorded at a five-month low of 4.85 percent in March due to a drop in foodgrain prices.
In data released on Friday, the consumer price index inflation rate was 5.09 percent in February last year. After that, the inflation rate decreased to 4.87 percent in the month of October last year as well. This year in March, it has again gone slightly below that level.
According to data released by the National Statistics Office, food inflation was recorded at 8.52 percent in the month of March. It was 8.66 percent in the month of February. According to the report given by Reuters, in the month of March, apart from food grains, the price of vegetables and pulses decreased and the price of shoes also decreased.
Near Reserve Bank Target
According to the latest data, the consumer price index-based inflation rate is now close to the Reserve Bank's target. The Reserve Bank has been given a target of bringing down the retail inflation rate to 4 percent. There may be a difference of two percent.