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Retail inflation eases marginally to 3.15% in July
Aug-14-2019

Snapping five-month rising trend, India’s retail inflation based on Consumer Price Index (CPI) eased marginally to 3.15% in the month of July 2019, on the back of softening fuel and light prices, even as inflation in the overall food basket moved up. CPI was 3.18% in June 2019, while it stood at 4.17% in July 2018. Also, inflation stayed below the RBI’s medium-term target of 4% for an eleventh straight month. The overall food inflation, measured on consumer food price index (CFPI) moved up to 2.36% in July from 2.25% in June 2019 and 1.30% in July 2018.

As per the data of the Central Statistics Office (CSO), Ministry of Statistics and Programme, the CPI (Rural, Urban, Combined) on Base 2012=100 for July 2019, stood at 2.19%, 4.22% and 3.15%, respectively, compared to 4.11%, 4.32% and 4.17%, respectively in July 2018. The index value of CPI for combined stood at 144.2. The data also showed that CFPI for all India Rural and Urban for July 2019 stood at 0.57% and 5.61%, respectively, compared to 2.18% and -0.36%, respectively in July 2018. The index value of CFPI for combined stood at 143.4 for the month of July.

The rate of price rise in vegetables softened to 2.82% during the latest month as against a rise of 4.66% in June, while prices of 'pulses and products' went up to 6.82% from 5.68%. In case of fruits, the price trend showed upside movement with an inflation print of (-) 0.86% as against (-) 4.18% a month earlier. Prices of protein-rich 'meat and fish' rose at nearly the same level at 9.05% from 9.01% in June, however, inflation in eggs eased to 0.57% against 1.62%. In fuel and light category, deflation was witnessed with a print at (-) 0.36%, as against a rise of 2.32% a month ago.

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