India’s annual retail inflation eased to a 19-month low of 4.7% in April from 5.66 per cent the previous month, government data showed on Friday.
The retail inflation was below the Reserve Bank of India’s upper tolerance limit for the second straight month.
A Reuters poll of 53 economists had forecast a rate of 4.80 per cent.
Also read: Industrial production rises 1.1% in March, 5.1% in FY23
Food inflation, which accounts for nearly half of the overall consumer price basket, moderated further in April to 3.84 per cent against 4.79 per cent in March.
Last month, the RBI surprised markets by holding its key repo rate steady after six consecutive hikes to tamp down inflationary pressures. Many economists expect it to remain on pause mode for the rest of the year to support the recovery in Asia's third-largest economy.