Retail inflation falls to 5-month low of 6.71 per cent in July
August 12, New Delhi: According to National Statistical Office (NSO) figures issued on Friday, India’s headline retail inflation decreased to 6.71 percent in July, the lowest level in five months, boosted by a drop in food and oil costs.
Retail inflation was 7.01 percent in June, according to the Consumer Price Index (CPI).
Although retail inflation fell slightly in July compared to the previous month, it remained above the Reserve Bank of India’s (RBI) maximum tolerance limit of 6%.
In July 2022, CPI-based inflation reduced to 0.46 percent from 0.52 percent the previous month.
In rural India, inflation was greater than in metropolitan regions. In July 2022, headline retail inflation in rural regions fell to 6.80 percent from 7.09 percent the previous month.
In July 2022, headline retail inflation in urban areas declined to 6.49 percent from 6.86 percent the previous month.
Price data are gathered from chosen 1,114 urban markets and 1,181 villages throughout all states and UTs on a weekly basis by field employees from the NSO’s Field Operations Division, the Ministry of Statistics, and Programme Implementation.
According to an official statement released by the Ministry of Statistics & Programme Implementation, the NSO collected prices from 99.7 percent of villages and 97.6 percent of urban markets in July 2022, and the market-wise prices reported therein were 89.5 percent for rural and 92.3 percent for urban.
