: Retail inflation eases to 6.71% in July #finance #StockMarketNEWS #Business Press Trust of India New Delhi Retail inflation softened to 6.71% in July due to moderation in food prices but remained

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Retail inflation eases to 6.71% in July #finance #StockMarketNEWS #Business
Press Trust of India



New Delhi



Retail inflation softened to 6.71% in July due to moderation in food prices but remained above the Reserve Bank’s comfort level of 6%  for the seventhconsecutive month.



With retail inflation continuing to remain high despite a fall in prices of vegetables and edible oils, among other commodities in July, the Reserve Bank of India (RBI) might go for another rate hike in September.



The Consumer Price Index (CPI) based retail inflation was at 7.01%  in June and 5.59% in July 2021. It was above 7% from April to June this fiscal.



According to the data released by the National Statistical Office (NSO) on Friday, food inflation in July moderated to 6.75% as against 7.75%  in June.



The retail inflation is above RBI’s upper tolerance level of 6% and has remained at that level for the past seven months.



The moderation in retail inflation in July was mainly due to easing of vegetable and edible oil prices. In the case of ‘fuel and light’, the prices remained high.

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