Consumer price index for the month of April has surged to 4.58 per cent. This has raised the chance of policy rate hike in near future.
A statement issued by the Ministry of Statistics and Programme Implementation revealed that increase in fruit and vegetable prices coupled with costly eggs pushed Consumer Price Index (CPI) to 4.58 percent in April form 4.28 per cent in March. The Consumer Food Price Index, however, was a tad lower to 2.8 per cent in April from 2.81 percent of March.