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Retail inflation accelerates to 2.86% in March

NEW DELHI: Retail inflation, according to Consumer Price Index (CPI), moved up to 2.86 per cent in March from 2.57 per cent in February due to higher food and fuel costs, a government knowledge released on Friday showed.

The Central Statistics Office (CSO) knowledge showed that inflation in food basket rose to 0.three per cent in March from (-) 0.66 per cent in the earlier month.

The inflation in 'fuel and lightweight' section rose to two.42 per cent as in opposition to 1.24 per cent in February.

The retail inflation stood at a nine-month low of 1.97 per cent in January.

A Reuters ballot had predicted that retail inflation could inch up to 2.80 per cent in March but will remain under the Reserve Bank of India’s (RBI's) medium-term goal of 4 per cent.

"A modest rise in (retail) inflation was on the cards. Some sequential pick-up in food is expected in the summer months. What's comforting is that inflation still remains within the targeted range of the RBI and in line with the trajectory outlined by the central bank," Tushar Arora, senior economist, HDFC Bank told information agency Reuters.

In every other set of information released by way of the federal government, factory output enlargement or business manufacturing slowed to 0.1 per cent in the month of February amid slowdown in the production sector.

Factory output, measured when it comes to the Index of Industrial Production (IIP) had grown by way of 6.nine per cent in February closing 12 months.

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