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Retail inflation eases to a five-year low of 3.54% in July, below RBI’s 4% target: Govt data
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Retail inflation eases to a five-year low of 3.54% in July, below RBI’s 4% target: Govt data


Aug 12, 2024 06:19 PM IST

Retail inflation fell to the lowest in nearly five years in July, according to the Consumer Price Index (CPI) data released on Monday.

Retail inflation fell to the lowest in nearly five years in July, according to the All India Consumer Price Index (CPI) data released on Monday, August 12, 2024.

Food inflation, driven by lentils and cereals, has been sticky in the world’s second biggest producer of wheat, rice and sugarcane, as extreme weather and a patchy monsoon shriveled crops last year. (Representational image)

Combined inflation (rural and urban) declined to 3.54% in July 2024, compared to 7.44% in July 2023.

This was the first time in nearly five years that overall retail inflation fell below the Reserve Bank of India’s 4% inflation target.

Urban inflation declined to 2.98% in July 2024, compared to 7.20% in July 2023.

Rural inflation declined to 4.10%, compared to 7.63% in July 2023.

The combined Consumer Food Price Index (CFPI), which shows food inflation also saw a sharp decline. It was 5.42% in July 2024, compared to 11.51% in July 2023.

Urban food inflation plummeted to 4.63% in July 2024, compared to 12.37% in July 2023.

Rural food inflation fell to 5.89%, compared to 11.04% in July 2023.

News / Business / Retail inflation eases to a five-year low of 3.54% in July, below RBI’s 4% target: Govt data



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