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The CPI, an extensive-ranging measure of goods and offerings prices, expanded even greater than the 8.3% Dow Jones estimate. With the except
Govt data shows retail inflation grew 6.69% in August
India CPI Inflation Rate 2020: Retail inflation growth across the country eased to 6.69 per cent in the month of August, the data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed. The retail inflation which is measured by the Consumer Price Index (CPI) for the month of July was also revised to 6.73 per cent from 6.93 per cent. Last month too, the government had revised the CPI data for June to 6.23 per cent from 6.09 per cent. Prior to June’s data, the government had not released the headline retail inflation data in April and May. However, in April, it had revised the CPI data for the month of March to 5.84 per cent from 5.91 per cent. The retail inflation has grown beyond the Reserve Bank of India’s (RBI) upper margin of 6 per cent. The government has mandated the Indian central bank to keep inflation within the range of 4 per cent with a margin of 2 per cent on either side. The central bank in its bi-monthly monetary policy meeting last month had kept its key interest rates on hold even as it vowed to keep policy sufficiently loose to help revive the coronavirus-battered economy. The Consumer Food Price Index (CFPI) or the inflation in the food basket eased to 9.05 per cent in the month of August. Also, the CFPI for July was revised to 9.27 per cent from 9.62 per cent, the data revealed. The growth in retail inflation was primarily due to a rise in meat and fish prices that saw a 16.50 per cent on-year rise in August. Read the full article
