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Source: Nanfang Daily Online Edition     time: 2022-08-16 14:04:48

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lisboa member account opening

  Retail inflation eases to 6.71% in July as compared to 7.01% in June

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Highlights

  • The government data suggested that retail inflation softened mainly due to moderation in food prices
  • The food inflation which stood at 7.75 percent in June came down to 6.75 percent in July
  • Retail inflation for industrial workers eased to 6.16 per cent in June from 6.97 per cent in May

Retail inflation news: Retail inflation for the month of July eased to 6.7 per cent from the previous month's 7.01 percent, official data showed on Friday. 

The government data suggested that retail inflation softened mainly due to moderation in food prices. The data also showed that the food inflation which stood at 7.75 per cent in June came down to 6.75 in July. 

Meanwhile, the Consumer Price Index (CPI) based inflation remained above the tolerance level of 6 percent that has been set by the Reserve Bank of India. CPI has remained above the designated level for the past seven months. 

Retail inflation for industrial workers 

Retail inflation for industrial workers eased to 6.16 per cent in June from 6.97 per cent in May this year due to lower prices of certain food items and petrol. "Year-on-year inflation for the month stood at 6.16 per cent compared to 6.97 per cent for the previous month (May 2022) and 5.57 per cent during the corresponding month (June 2021) a year before," a labour ministry statement said.

The index is compiled for 88 centres and all-India and is released on the last working day of the succeeding month. Puducherry centre recorded the maximum increase of 2.6 points followed by Amritsar and Tripura with 2.2 points and 2 points, respectively.  

(With Inputs from PTI)

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