TIWN
New Delhi, Sep 13 (TIWN) Lower food prices eased India's August retail inflation on a sequential and year-on-year basis.
Data, furnished by the National Statistical Office (NSO), showed that the Consumer Price Index (CPI) slipped to 5.30 per cent last month from 5.59 per cent in July. Even on YoY basis, last month's retail inflation was lower than 6.69 per cent recorded for August 2020. The macro-economic data assumes significance as it brings retail inflation mark in the range of the Reserve Bank of India's set target of 2-6 per cent for CPI inflation. The declining retail inflation rate reduces the chance of the RBI to further loosen up the monetary policy. Region wise, the CPI Urban fell to 3.28 per cent last month from 4.56 per cent in July, and the CPI Rural came down to 3.08 per cent in August from 3.55 per cent in July.
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals