Shillong, August 14: India’s consumer price index (CPI) surged to 7.44% in July, with a significant jump in food prices leading to a staggering 11.51% increase in food inflation.
This stark increase contrasts with June’s retail inflation at 4.87% and food inflation at 4.55%. The July figures have breached the Reserve Bank of India’s (RBI) tolerance limit of 6%.
As per IANS, the substantial uptick in retail inflation is attributed to higher costs of fruits, vegetables, cereals, pulses, dairy products, and even clothing and footwear, as indicated by data released by the Ministry of Statistics and Programme Implementation on Monday.
In comparison, July 2022 saw retail inflation at 6.71% and food inflation at 6.69%.