Inflation in India peaked in April

In April, annual inflation in India was 2.92%, having accelerated from 2.86% in March, official data showed. The April inflation rate was the highest in the last six months. Economists had expected an even greater acceleration of inflation – up to 2.97%. Rising food prices in annual terms amounted to 1.1%. Fuel and electricity rose by 2.56%. The cost of clothes and shoes increased by 2.01%. Housing became more expensive by 4.76%. Experts note that inflation, despite its acceleration since February, remains below the target indicator of the Reserve Bank of India – at 4%. This fact, in their opinion, suggests that the Indian Central Bank may cut interest rates this year to stimulate economic growth in the country.

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