India’s retail inflation in April 2022 surged to 7.79 percent in April, largely driven by rising fuel and food prices, touching its highest point in the last eight years.
The previous high was recorded at 8.33 percent in May 2014. 6.95 percent inflation is recorded in the month of March. Food inflation accounted for nearly half the consumer price index (CPI) basket, reaching a high in April. Reserve Bank of India’s (RBI’s) upper tolerance limit for retail inflation is 6 %.