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India’s July retail inflation inches-lower to 3.15 percent

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India’s inched lower to 3.15 percent in July from 3.18 percent in June and 4.17 percent in the corresponding month of the previous year.

India's July retail inflation inches-lower to 3.15 percent

According to data furnished by the National Statistical Office (NSO), the Consumer Food Price Index (CFPI) inflated to 2.36 percent during the month under review from an expansion of 2.25 percent in June 2019 and 1.30 in July 2018.

However, among the non-food categories, the fuel and light segment’s inflation declined on a year-on-year (YoY) basis to (-) 0.36 percent in July.

Product-wise, prices of vegetables, eggs, meat and fish pushed the retail inflation higher on a YoY basis. In contrast, decline in prices of ‘sugar and confectionery’ capped the overall food inflation.

Accordingly, the prices of vegetables increased 2.82 percent, meat and fish by 9.05 percent, eggs by 0.57 percent and pulses and its products by 6.82 percent.

On the other hand, prices of milk-based products rose 0.98 percent, cereals and its products 1.31 percent and sugar and confectionery (-) 2.11 percent.

The sub-category of food and beverages recorded a 2.33 percent rise in last month over July 2018.