The retail inflation in India has surged to eight-year high of 7.79 per cent in April due to a sharp jump in fuel and edible oil prices, the government data showed.
It is the highest surge in eight years. Consumer Price Index (CPI) inflation in April 2022 is the highest since May 2014, when it stood at 8.33 per cent.
In recent times, retail inflation has risen sharply. In March 2022, it stood at 6.95 per cent while in April 2022 the retail inflation data doubled from 4.23 per cent recorded in April 2021.
The price rise was sharper in rural India. Rural retail inflation rose to 8.38 per cent in April as compared to 7.66 per cent in the previous month and 3.75 per cent in April 2021.
Urban retail inflation surged to 7.09 per cent in April as compared to 6.12 per cent in March and 4.71 per cent in April 2021, according to data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.
A sharp jump in fuel and food prices has led to a multi-year jump in inflation.
Food inflation surged to 8.38 per cent in April from 7.68 per cent in the previous month and 1.96 per cent in April 2021.