India's retail inflation eases to 6.71% in July

India's retail inflation based on the Consumer Price Index (CPI) eased to 6.71% in July 2022 compared with 7.01% in preceding month.

Inflation eased mainly due to easing prices in the food & beverages section. The Consumer Food Price Index (CFPI), or the inflation in the food basket, showed a month-on-month fall during July to 6.75%, from 7.75% in June, the data revealed.

The CPI continues to remain above the Reserve Bank of India's (RBI) upper margin of 6% for the seventh consecutive month. The government has mandated the central bank to maintain retail inflation at 4% with a margin of 2% on either side.

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