August 14th 2023.
It has been reported that the Retail inflation in India for July rose to 7.44 percent from 4.87 per cent in June, indicating a significant increase in the cost of products and services. The consumer food price inflation also saw a substantial rise to 11.51 percent in July from 4.49 percent in June.
Breaking it down further, the rural inflation for the same period was 7.63 percent compared to 4.72 percent in June. Urban inflation stood at 7.20 percent against 4.96 percent in the same timeframe. The Housing inflation for July also saw a slight drop to 4.47 percent from 4.56 percent in June. Clothing and Footwear Inflation was at 5.64 percent against 6.19 percent in June.
Inflation for food products like pulses saw an even greater increase of 13.27 percent in July compared to 10.53 percent in June. Vegetable inflation was the highest at 37.34 percent in July against negative 0.93 percent in June. On the other hand, fuel and light inflation for July stood at 3.67 percent compared to 3.92 percent in June.
Finally, the Wholesale Price Index (WPI) Inflation for July was negative for the fourth consecutive month at 1.36 percent. This figure suggests a decrease in the cost of wholesale items.
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