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Resource centre on India's rural distress
 
 

Retail inflation falls to 6.71% for July, down from 7.01% in June

-The Telegraph

In first three months of current fiscal, inflation remained above 7 per cent

Retail inflation softened to 6.71 per cent in July due to moderation in food prices but remained above the Reserve Bank's comfort level of 6 per cent for the seventh consecutive month.

With retail inflation continuing to remain high despite a fall in prices of vegetables and edible oils, among other commodities in July, the Reserve Bank of India (RBI) might go for another rate hike in September.

The Consumer Price Index (CPI) based retail inflation was at 7.01 per cent in June and 5.59 per cent in July 2021. It was above 7 per cent from April to June this fiscal.

According to the data released by the National Statistical Office (NSO) on Friday, food inflation in July moderated to 6.75 per cent as against 7.75 per cent in June.

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