- 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)
ALSO READ | Edible oils import jumps up 31 pc to 12.05 lakh tonnes in July
ALSO READ | India to be fastest growing economy this yr: Govt source
Latest Business News
Credit: Source link