India’s retail inflation slipped below the 7% mark for the first time since April, easing to 6.71% in July, aided by a moderation in food prices inflation to 6.75%, the lowest in five months.
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This is the seventh month in a row that the pace of price rise has been over the upper tolerance limit of 6% pursued by the central bank’s monetary policy committee.
While inflation in edible oils, meat and fish, and vegetables relented in July, price rise in fruits and eggs accelerated, and cereals inflation hit a multi-year high of 6.9%. Rural inflation eased from 7.09% in June to 6.8% in July, while urban consumers faced 6.49% inflation, from 6.86% in June.
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