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Food prices drive March CPI lower to 5.17%

Retail inflation, as measured by the consumer price index (CPI), slowed to 5.17 percent year-on-year in March, government data released today showed, compared to 5.37 percent in February.

The News International Team

Retail inflation, as measured by the consumer price index (CPI), slowed to 5.17 percent year-on-year in March, government data released today showed, compared to 5.37 percent in February.

The fall was largely broad-based with food inflation, which constitutes nearly half the index, coming in at 6.14 percent compared to 6.79 percent in February, clothing and footwear slowed to 6.27 percent YoY from 6.38 percent, though fuel and light inflation perked up a bit.

A CNBC-TV18 poll of economists had forecast inflation to come in at 5.36 percent, even though the poll threw up a wide range of numbers.

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