IANS | 15 Aug, 2023
India's retail inflation measured by consumer price index (CPI), saw a
huge rise to 7.44 per cent in July owing to hike in food prices, as
food inflation witnessed a massive jump of 11.51 per cent.
The
rise in retail and food inflation in July is huge compared to the fact
that retail inflation in June was 4.87 per cent, while food inflation
was 4.55 per cent.
The July inflation has also breached RBI's tolerance limit of 6 per cent.
The
big spike in retail inflation in July is mainly due to increase in
prices of fruits and vegetables, cereals, pulses, milk products and even
clothing and footwear, according to figures released by ministry of
statistics and programme implementation on Monday.
In July 2022, retail inflation was 6.71 per cent and food inflation was 6.69 per cent.
