 "Inflation, Vegetables, Fruits, Budget 2024")
Annual retail inflation was 3.54 per cent in July, from 5.08 per cent in June.
India’s retail inflation in July to a near five-year low, as food prices eased from previous highs due to a base effect, government data showed on Monday.
Â
Annual retail inflation was 3.54 per cent in July, from 5.08 per cent in June. The latest print is the lowest since August 2019.
Â
Economists polled by Reuters had forecast inflation at 3.65 per cent, based on a higher print in July last year when inflation hit a 15-month peak of 7.44 per cent.
Â
Retail inflation fell below the Reserve Bank of India’s target of 4 per cent largely due to the high-base effect, suggesting the slower pace of price rises was temporary. The inflation rate was last recorded below 4 per cent in September 2019.
Â
Prices of food, which account for nearly half of the retail inflation, rose 5.42 per cent from last year in July, compared to a 9.36 per cent rise in June.
Â
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 12 2024 | 6:04 PM IST
