India's retail inflation accelerates to 2.92 per cent in April

New Delhi, May 11: India's annual retail inflation rose to 2.92 per cent in April 2019 as against 2.86 per cent in March.

The data released by the Central Statistics Office (CSO) showed that food inflation was at 1.1 percent in April against 0.3 percent in March on a month-on-month basis.

Analysts polled by Reuters had forecast April's annual increase in the consumer price index at 2.97%.

As per the data, the food price inflation, food and beverage inflation and fuel, light inflation for the month of April 2019 surged higher from the previous month's values.

The Reserve Bank of India cut the policy rate by 25 basis points for the second consecutive time in April as concern over growth loomed larger than those surrounding inflation.