While headline inflation has moderated in recent months, food prices, which account for nearly half the consumer price index (CPI) basket, have remained elevated, squeezing household budgets
Das stressed that RBI may consider rate cuts only once retail inflation eases towards the RBI's 4% target on a sustainable basis
The footwear category grew as well but was not among the better-performing verticals with a year-on-year sales growth of 2-3% in May
For April 2023, only 2,844 units were sold against 18,826 units sold in April 2022
Prices of the safe haven asset have soared due to global economic uncertainty
April was the sixth straight month in which inflation was higher than the Reserve Bank of India's medium-term target of 4 per cent.