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Retail inflation decelerates to 2.99pc as food prices plunge

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India’s decelerated to 2.99 per cent last month from 3.89 per cent for March as food prices reported a massive plunge, official data showed on Friday.

Retail inflation decelerates to 2.99pc as food prices plunge
The Consumer Food Price Index (CFPI) during the month under review plunged to 0.61 per cent, as compared to 2.01 per cent in March

According to data furnished by the Ministry of Statistics and Programme Implementation, last month’s retail inflation rate, based on the Consumer Price Index (CPI), was lower from 5.47 per cent recorded during April last year.

The Consumer Food Price Index (CFPI) during the month under review plunged to 0.61 per cent, as compared to 2.01 per cent in March.

The Central Statistics Office data revealed that the annual retail inflation for rural India was 3.02 per cent, while that for the urban centres was 3.03 per cent.