NEW DELHI, April 12 (Xinhua) -- India's retail inflation rises to 2.86 percent in March, data released by ministry of statistics and programme implementation showed on Friday.
The retail inflation witnessed a slight rise on account of increase in prices of food articles and fuel.
"The inflation based on Consumer Price Index (CPI) in March this year is 2.86," the government data said. "It was 2.57 percent in February this year and 4.28 percent in March 2018."
India's central banking institution, Reserve Bank of India (RBI), has set a medium-term target of 4 percent for consumer inflation, which is determined by Consumer Price Index (CPI).
The RBI, which tracks consumer inflation primarily to formulate its monetary policy, earlier this month announced a reduction in repo rate by 25 basis points or 0.25 percent to 6 percent.
Meanwhile, separate data release by the ministry showed that growth in factory output plunged to less than 0.1 percent in February. The dip was witnessed on account of a slowdown in the manufacturing sector.
