Lower food prices likely dragged India’s April inflation to 3-month low

Consumer price inflation was predicted to cool to 4.20% in April, just above the RBI's 4% mid-point target and down from March's four-month high of 5.52%, according to the poll of nearly 50 economists.

Indian retail inflation likely eased to a three-month low in April on softening prices for vegetables and other perishable foods, a Reuters poll suggested, bringing the headline rate closer to the midpoint of the Reserve Bank of India's medium-term target. That reprieve would provide policymakers with some relief as they seek to keep prices under control amid growing risks that state-wide lockdowns and curfews imposed to tackle a record surge of COVID-19 cases could disrupt supplies and fuel prices.