Overall Inflation: Remained nearly unchanged at 4.83% compared to 4.85% in March.
Food Inflation: Surged to a four-month high of 8.7%, significantly higher than overall inflation.
Rural consumers experienced a sharper rise at 8.75%.
Urban vs. Rural: The gap in inflation rates persisted.
Rural households: Inflation rose 5.43%.
Urban households: Inflation remained almost flat at 4.11% (compared to 4.14% in March).
Monthly Price Change: Prices rose 0.5% from March.
Urban areas saw a sharper rise in both overall prices and food items (1.03% increase for food).
Rural areas had a more subdued increase (0.59% for food).
RBI's Target: The Reserve Bank of India aims for an average inflation of 4.5% for 2024 (down from 5.4% in 2023-24).
They expect an average of 4.9% inflation for the April-June quarter.
This suggests inflation might rise in the coming months.
Reason for Stable Headline Inflation:
Despite rising food prices, the overall inflation rate remained stable due to:
A steeper drop in fuel and light prices (down 4.2% compared to 3.2% in March).
Slightly lower inflation in other categories like clothing, housing, and healthcare.
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