India retail inflation breaches tolerance level

New Delhi: According to official data showed today, India’s annual retail inflation shot up beyond the tolerance level of 6 percent for July because of higher food prices like pulses and vegetables.

While on the brighter side the factory output rose 2.1 per cent in June.

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The retail inflation, based on the Consumer Price Index (CPI) of the Central Statistics Office (CSO), rose to its highest level in 23-months from 5.77 per cent in June and 3.69 per cent in the like period of last year.

The annual retail inflation for rural India was 6.66 per cent, while that for the urban centers was 5.39 per cent.

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Importantly, the annual food inflation has been galloping. It was 8.35 per cent for the whole of India, 8.25 per cent in rural areas and 8.80 per cent in the urban conclaves. Among the food items, the annual rise was 27.53 per cent for pulses and 14.06 per cent for vegetables.

The official data further showed that prices of sugar and confectionery edged-up by 21.91 per cent on a year-on-year (YoY) basis, whereas cost of spices were up by 9.04 per cent.

In addition, the protein-based food items like meat and fish became expensive by 6.57 per cent. Eggs’ cost rose by 9.34 per cent.

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