According to the data released by the National Statistical Office (NSO), retail inflation in April is 7.79%. Rural inflation surged to a near 8-year high of 8.38%, whereas urban inflation was at an 18-month high of 7.09%.

• It is the fourth straight month that the retail inflation crossed the Reserve Bank of India’s (RBI’s) inflation target.
• The previous highest inflation was 8.33 %, seen in May 2014.
• The food price inflation (combined for rural and urban) in April 2022 is 8.38%.
• Reserve Bank of India (RBI) is mandated by the Central government to maintain the inflation rate at 4%, with a lower tolerance of 2% and upper tolerance of 6%. If inflation breaches the 2%-6% band for three consecutive quarters, it is legally considered the failure of the Reserve Bank of India (RBI).