India’s retail inflation inched up to 2.07 per cent in August, marking an increase of 46 basis point as compared to the upwardly revise figure of 1.61 percent in July. However, the inflation rate is well within the RBI’s target rate of 4 per cent.
According to data released by the Ministry of Statistics and Programme Implementation, inflation in rural areas increased to 1.69 per cent and at 2.47 percent in urban regions. The annual food inflation rate, based on the All India Consumer Food Price Index (CFPI) remained in negative zone for the third consecutive month. Deflation in food prices stood at 0.69 per cent in August.
Corresponding food inflation rate for rural areas also decelerated to 0.70 per cent and at 0.58 per cent at in urban regions. According to the Ministry, an increase in headline inflation and food inflation during the month of August is mainly attributed to increase in inflation of Vegetables, Meat and fish, Oil and fats, Personal care and affects and Egg.
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