Reuters' poll of economists projects April retail inflation at 7.5%
A poll of nearly 45 economists conducted by Reuters between 5 and 9 May 2022 shows that retail inflation rose to 7.5 per cent in April 2022 from 6.95 per cent in March 2022 on account of rising fuel and food prices. If realised, it would be the highest reading since October 2020 and well above the Reserve Bank of India’s upper tolerance limit of six per cent for a fourth consecutive month. Forecasts in the poll ranged between 7.0 per cent to 7.85 per cent. Food inflation, which accounts for nearly half the consumer price index (CPI) basket, reached a multi-month high in March and is expected to remain elevated due to higher vegetable and cooking oil prices globally.