July retail inflation eases to 3-month low of 5.59%; June IIP at 13.6%

India's retail inflation eased to a three-month low in July, back within the Reserve Bank's tolerance level (2 per cent-6 per cent) after staying above the upper band for two straight months, government data released on Thursday showed.

The consumer price index (CPI) based inflation cooled to 5.59 per cent in the last month from 6.26 per cent in June.

Food inflation fell substantially to 3.96 per cent in July from 5.15 per cent in June.

The RBI in latest monetary policy review has kept the rates and stance unchanged and pledged to remain accommodative in the near future, while