The retail inflation in India, based on the Consumer Price Index (CPI), declined to 6.7 per cent in July, compared with 7.01 per cent in the previous month. This is the third month in a row to see an easing in the retail inflation. food inflation in July 2022 moderated to 6.75 per cent as against 7.75 per cent in June.
However, July is the seventh consecutive month when the retail inflation remained above the RBI’s tolerance range of 2-6 per cent. The retail inflation in June had stood at 7.01 per cent, which was slightly lower than 7.04 per cent in May. Inflation in rural areas in June was at 7.09 per cent during June 2022, while that in urban areas was 6.92 per cent.
According to the latest data released by the National Statistical Office (NSO) on Friday, the price rise in both rural and urban regions saw easing, with inflation in rural areas falling to 6.80 per cent during July 2022, while that in urban areas dropped to 6.49 per cent.
The inflation print in vegetables also decline to 10.9 per cent from 17.37 per cent in June. ‘Pulses and products’, however, see a rise in inflation to 0.18 per cent in July from (-)1.02 per cent in June.
Inflation in ‘cereals and products’ also rose to 6.90 per cent from 5.66 per cent a month ago. The rate of price rise in ‘fuel and light’ increased to 11.76 per cent, compared with 10.39 in June, while that in fruits jumped to 6.41 per cent as against 3.10 per cent in the previous month.
With inputs from News18