Retail inflation in April drops to 3.16%, the lowest level since July 2019.

As food prices increased more slowly, India's annual retail inflation dropped to 3.16% in April from 3.34% in March, its lowest level in almost six years, according to official statistics released on Tuesday.

According to a statement from the government, it is the lowest annual inflation rate since July 2019.

Inflation for food decreased from 2.69% in March to 1.78% in April. In contrast to a 7.04% decline in March, vegetable prices dropped 11% year over year.

Cereal prices up 5.35% compared to a 5.93% increase in March, while pulse prices decreased 5.23% compared to a 2.73% decrease within the same time frame.