India 360: Big setback on retail inflation front; Inflation rate exceeds RBIs fixed limits

The jump in retail inflation in March has come due to costly food items. Retail food inflation stood at 7.68% in March. Earlier it was 5.85 per cent in February. This is the third consecutive month that retail inflation has remained above the RBI's satisfactory level. RBI has fixed an upper limit of 6% for inflation rate. The supply chain was affected due to the ongoing war between Russia and Ukraine. Due to this, grain production, supply of edible oils and fertilizer exports have been affected at the global level. Due to this there has been a rise in the price of food items. The rate of palm oil has increased by about 50% this year.