Retail in Asia

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India’s retail inflation up at 9.47pc in Mar

A day after the Reserve Bank of India (RBI) cut policy rates by 50 basis points, government data on Wednesday showed India’s retail price inflation shot up to 9.47 percent in March, compared with 8.83 percent in the previous month, primarily due to the soaring rise in vegetable prices.

While urban areas saw a steep rise in inflation, 10.3 percent from 9.45 percent in February, in rural regions, consumer price index (CPI)-based inflation rose to 8.79 percent from 8.36 percent in the previous month.