Retail inflation rises to 6.95 percent in March, Consumer Price Index climbs due to rising food and oil prices

Retail inflation rose to 6.95 percent in March this year from 6.07 percent in preceding month. Inflation based on Consumer Price Index climbed mainly due to rising food and oil prices. As per the Ministry of Statistics and Programme Implementation data released today, the inflation in the food basket was 7.68 percent in March, up from 5.85 percent in February 2022. Retail inflation in March this year has breached Reserve Bank of India's (RBI) upper tolerance limit of 6 percent for third...