Lower food prices ease India's July retail inflation to 4.17%

Lower food prices eased India's July retail inflation to 4.17 per cent from a rise of 4.92 per cent in June, official data showed on Monday.

However, on a year-on-year (YoY) basis, the Consumer Price Index (CPI) in July 2018 was higher than the corresponding period of last year, when retail inflation stood at 2.36 per cent.

According to the data furnished by the Central Statistics Office (CSO), the Consumer Food Price Index (CFPI) rose 1.37 per cent in July from 2.91 per cent in June 2018.

Product-wise, prices of milk-based products, eggs, meat and fish pushed the retail inflation higher on a YoY basis.

In contrast, deflation in the cost of vegetables, pulses and sugar capped the overall food prices.

Accordingly, the prices of milk-based products rose by 2.96 per cent, while cereals became dearer by 2.92 per cent and meat and fish prices recorded a rise of 2.26 per cent.

On the other hand, the category of 'pulses and products' became cheaper by (-) 8.91 per cent and that of 'sugar and confectionery' by (-) 5.81 per cent.

The sub-category of food and beverages during the month under consideration recorded a rise of 1.73 per cent over the same period last year.

Among non-food categories, the "fuel and light" segment's inflation rate accelerated to 7.96 per cent in July.

--IANS

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