India's retail inflation for the month of July as measured by the Consumer Price Index (CPI) came in higher at 6.93 per cent as per the data released by the National Statistics Office (NSO) on Thursday. This is as the food prices continued to rise on account of disrupted supply amid the coronavirus pandemic.
July Retail Inflation Climbs To 6.93% On High Food Prices
In June CPI-based retail inflation was recorded at 6.09 per cent while in the year-ago period it stood at 3.15%. The food inflation for July month increased to 9.62%, which in June came in at 8.72%.
This is for the second straight month that retail inflation has breached the RBI's comfort level of 4% (+,-2 percent). While taking a decision on its bi-monthly monetary policy, the apex bank primarily takes into consideration retail inflation.
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