Retail inflation, as measured by the consumer price index (CPI), remained within the Reserve Bank of India (RBI) target range of 2 to 6 percent for the second consecutive month.
Retail inflation fell to 5.30 percent in August. (Photo: Reuters)
India’s retail inflation fell marginally to 5.30 percent in August, from 5.59 percent in July, according to official government figures.
Retail inflation, as measured by the consumer price index (CPI), remained within the Reserve Bank of India (RBI) target range of 2 to 6 percent for the second consecutive month. However, it is still above the central bank’s medium-term target of 4 percent.
Reading | Retail inflation falls to 5.59% in July due to falling food prices
While retail inflation fell in August due to falling food prices, the decline was marginal due to persistent supply chain disruptions that have resulted in higher prices for many commodities in various sectors.
New inflation data released by the National Bureau of Statistics (NSO) showed that food inflation slowed from 4 percent in July to 3.11 percent in August as vegetable prices fell during the month.
However, the decline in food inflation in August was offset by increased fuel and slight inflation of 12.95 percent and service inflation of 6.4 percent.
While retail inflation is lower than economists forecast in August, concerns about rising prices of some commodities remain. The RBI had held its monetary policy stance stable over the past month, but expressed concern about rising inflationary pressures on the economy.
However, RBI Governor Shaktikanta Das said a few days ago that retail inflation is likely to continue to weaken, and that is It is unlikely that the 6 percent threshold will be exceeded in the foreseeable future.
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