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Retail inflation up in Aug on high food prices
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SME Times News Bureau | 13 Sep, 2017
A rise in food prices pushed India's annual retail inflation higher in August, official data showed on Tuesday.
According
to the data furnished by the Ministry of Statistics & Programme
Implementation, August's consumer price index (CPI) inflation shot-up a
full one percentage point to 3.36 per cent from a rise of 2.36 per cent
in July.
On a sequential basis, the country's Consumer Food Price
Index (CFPI) rose to 1.52 per cent during the month under review when
compared to July 2017.
However, on a year-on-year (YoY) basis,
the country's August retail inflation was lower than the 5.05 per cent
CPI rate reported for the corresponding month of last year.
The YoY CPI in urban areas ruled higher at 3.35 per cent, whereas in rural India it rose by 3.30 per cent.
As
per the ministry's data, retail inflation on a YoY basis edged higher
due to a rise in the prices of food items like vegetables, cereals,
milk-based products, meat and fish.
The data on a YoY basis
showed that vegetables in August became costly by 6.16 per cent, while
cereals prices rose by 3.87 per cent.
Other notable categories
such as milk-based products became dearer by 3.58 per cent and meat and
fish recorded a rise of 2.94 per cent.
Food and beverages during the month under consideration recorded a rise of 1.96 per cent over the same month last year.
Among non-food categories, the "fuel and light" segment's inflation rate accelerated to 4.94 per cent in August.
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As on 13 Aug, 2022 |
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