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July CPI Inflation Eases To 3.15%


The Central Statistics Office (CSO) in its latest price data revealed that retail inflation for the month of July stood at 3.15%, which is well within the RBI's 4% target level. June CPI inflation stood at 3.18% while it was 4.17% in the corresponding month last year.


July CPI Inflation Eases To 3.15%

The growth in inflation for July month has dipped despite an increase in the price of food items, said the official release.

Food inflation which measures a change in kitchen budget was marginally up at 2.36% in comparison to 2.25% in the preceding month. Cereals and products category logged steady inflation rate of 1.3% while vegetables inflation came in lower at 2.82% versus 4.66% in June.

Notably, in its bi-monthly monetary policy review meet, the apex banking regulator RBI factors mainly retail inflation to decide its interest rate trajectory.

For the July-September period, the RBI has projected retail inflation to be at 3.1% while for the second half of the ongoing financial year, inflation is pegged to be in the range of 3.5-3.7%.

Read more about: inflation cpi retail inflation
Story first published: Tuesday, August 13, 2019, 18:30 [IST]
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