India retail inflation climbs to 3.4% in March

Retail inflation inched up marginally to 3.4 per cent on year in March as against 3.21 per cent in February, according to government data released on Monday. Corresponding inflation rates for rural and urban are 3.63% and 3.11%, respectively. Based on the consumer price index (CPI) data, the rate of price rise in the food basket was 3.87 per cent in March, up from 3.47 per cent in the preceding month. Corresponding inflation rates for rural and urban are 3.96% and 3.71%, respectively. Meanwhile, year-on-year housing inflation rate for the month of March came in at 2.11% and the corresponding inflation rates for rural and urban are 2.54% and 1.95%, respectively.