Retail inflation based on the Consumer Price Index (CPI) stood at 5.59 per cent in July and 6.69 per cent in August 2020.
Retail inflation fell marginally to 5.3 per cent in August, mainly on account of lower food prices, official data showed on Monday. Retail inflation based on the Consumer Price Index (CPI) stood at 5.59 per cent in July and 6.69 per cent in August 2020.
According to data released by the National Statistical Office (NSO), inflation in the food articles basket stood at 3.11 per cent in August, from 3.96 per cent in the previous month.
The Reserve Bank had kept the key interest rate unchanged in its monetary policy review in August. It primarily focuses on the CPI while setting its bi-monthly monetary policy.
The RBI has forecast CPI inflation at 5.7 per cent during 2021-22 – 5.9 per cent in the second quarter, 5.3 per cent in the third and 5.8 per cent in the fourth quarter of the financial year, with risks, roughly balanced. CPI inflation for the first quarter of 2022-23 is estimated at 5.1 per cent.
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