Retail inflation in India declines to 2.99% in April, WPI at 3.85%

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New Delhi:

India's retail inflation declined to 2.99 per cent in April, as against 3.89 per cent in March, as per new base year of 2011-12. The data released by the government on Friday is part of a new series of wholesale inflation and industrial output data, revising the base year to 2011/12 from 2004/05.As per the new series, the wholesale price based inflation slowed down to 3.85 per cent in April, from 5.29 per cent in March. The inflation rate is lower than a 4.79 percent annual rise forecast by economists in an international poll.According to agency reports, India registered a 2.7 per cent rise in the industrial output in March as against 5.5 per cent a year ago.According to the figures issued, India's industrial growth was recorded at 5 per cent in 2016-17 as against 3.4 per cent a year ago based on the new series.As per the old series (2004-05), IIP grew by 2.5 per cent in March and 0.7 per cent in 2016-17.

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