July retail inflation eases to 6.71% on food prices, stays above RBI target

India’s headline retail inflation for July was its lowest in five months, helped by an easing of global commodity prices and lower food prices domestically but above the central bank’s medium-term target.

Data released by the National Statistical Office on Friday showed consumer price index-based inflation for July was 6.71 per cent, compared with 7.01 per cent in June. Consumer food price index (CFPI) was 6.75 percent in July, down sharply from 7.75 per cent in June.

Among the sub-groups, inflation for vegetables was 10.90 per cent compared with 17.37 percent in June. Edible oil inflation rate was 7.52 per cent compared