Retail inflation up 2.36 % in July |
The annual consumer price inflation rose to 2.36 percent in July after easing for three straight months, as a decline in food prices slowed sharply. However, on a year-on-year (YoY) basis, the country`s July retail inflation was lower than the 6.07 per cent CPI rate reported for the corresponding month of 2017. Retail inflation in July was pushed higher by a rise in prices of cereals, milk-based products, meat and fish. On a sequential basis, the Consumer Food Price Index (CFPI) rose by 3.21 per cent. The data on a YoY basis, showed that cereals prices in July edged higher by 3.97 per cent, and meat and fish recorded a sharp rise of 3.19 per cent. Food and beverages recorded a marginal rise of 0.43 per cent over the same month last year. Meanwhile, India`s export grew by 3.94 per cent on a yearly basis to USD 22.54 billion in July on account of rise in shipments of petroleum, chemicals and marine products.
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