Inflation Shocks! CPI at the highest level since 2014, clocks in at 7.79%

Consumer Price Index for inflation for the month of April has shocked at 7.79%. The reading makes it the highest ever since 2014. The internals of the data is something the common man has been facing with record high prices of atta, fuel and edible oil. The data makes it clear that RBI which shocked the street with a 40 bps hike in May is likely to hike rates again in June. The pressure on prices comes as global food and fuel inflation is also at a record high. Here are the economic highlights-:

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• Consumer prices at 7.79%, Vegetable price inflation at 15%
• Consumer food price inflation 8.38% vs 7.68% in March
• Rural consumer price inflation 8.38% vs 7.66% in March
• Inflation reading has breached RBI's tolerance range for 4th straight month.