Retail inflation eases to 4.83% in April, stays within RBI's band for 8th straight month

India's annual retail inflation rate eased slightly to 4.83% in April from 4.85% in the previous month, an 11-month low, and loosely in line with market estimates of 4.8%.

The ease was  partly due to low fuel rates, though food prices remained elevated.

The reading marked the eighth straight month that inflation remained within the RBI’s tolerance band of 2 percentage points within 4%, indicating that the central bank is likely to hold its key rate unchanged.

The Consumer Price Index (CPI) inflation in March was at a 10-month low of 4.85 percent. Vegetable inflation stood at 27.80% year-on-year, down from 28.30% in March. Additionally, inflation rates for cereals and pulses, significant components of India's staple diet, were recorded at 8.63% and 16.84%, respectively.