Retail inflation rose marginally to 3.48% in April compared to 3.40% in the preceding month, mainly due to an uptick in food prices.

Food inflation, as per the Consumer Price Index (CPI), was 4.2% last month compared to 3.87% in March.

The year-on-year inflation rate based on All India Consumer Price Index (CPI) with base year 2024 for April was 3.48%, according to the National Statistics Organisation (NSO) data.

The corresponding inflation rates for rural and urban were 3.74% and 3.16%, respectively.

Last month, the Reserve Bank projected the CPI inflation for 2026-27 at 4.6%, with 4 per cent in Q1. It also said that persistently elevated energy prices due to the West Asia conflict and possible El Niño conditions (which could have a negative impact on the southwest monsoon) pose upside risks to inflation.