Inflation accelerated further to a four-month high, Industrial production contracts

Retail price rise picked up pace in March, Headline CPI rose to 5.5% in March from 5% in February. This marks a 4-month high for the retail prices. 

The pick up in inflation came from higher than anticipated uptick in food and fuel prices.  Food inflation accelerated to 4.9% YoY in March mainly due to higher price of edible oil, fruits and meat. 

Industrial production for the month of February contracted 3.6% YoY in February vs. -0.9% in January. This contraction however was anticipated given a higher base from last year.