Retail Inflation in India: Your kitchen budget has once again been hit by inflation. The latest figures that have come for the month of April are going to increase the concern of the common man. Retail inflation in the country has reached its highest level in a year. While it was 3.40 percent in March, it has increased to 3.48 percent in April. Retail inflation has increased at a time when the country is already in crisis due to the Iran War.

Why is inflation increasing?

According to the Consumer Food Price Index, food inflation has jumped from 3.87 percent in March to 4.20 percent in April. This means that the prices of pulses, vegetables and basic essential items in your plate have increased. Vegetables are in the worst condition. In the month of April, tomato prices have seen an increase of more than 35 and a half percent as compared to last year. However, the only matter of relief is that there has been a decline in the prices of potatoes and onions at present.

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Now other things related to your lifestyle have also become expensive. Data shows that the category of personal care and other miscellaneous goods has seen the highest inflation i.e. about 17.5 percent. If you are thinking of buying jewellery, you will have to shell out some money there too. The inflation rate of silver jewelery remains above 144 percent, while the inflation rate of gold, diamond and platinum jewelery has also increased by more than 40 percent. It is clear that buying gold and silver in this wedding season is no longer as easy as before.

The impact of inflation is greater in villages than in cities.

According to the data, the inflation rate in rural India was 3.74 percent, while in urban areas it was recorded at 3.16 percent. This means that the village people are having to bear the brunt of inflation. Talking about transport, there is some relief here because transport inflation is currently stable and a slight decline has been seen in it. But due to increase in the prices of basic necessities, the savings of the common man are being directly affected.

Now let’s talk about the future. The target of Reserve Bank of India i.e. RBI is to keep inflation around 4 percent. Although the current rate is lower than this, an increase has been seen in it for the second consecutive month. RBI has already warned that fuel prices may increase due to the ongoing tension in West Asia. Also, there is a possibility that the effect of El Nino will affect the monsoon, due to which the prices of food items may increase further in the coming time.

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