The inflation rate, which reached below 5 percent in June with great difficulty, has started showing its colour. In the month of July, it has once again left behind the maximum limit of 6 percent of the Reserve Bank of India and it has gone above 7 percent. Based on the data based on the Consumer Price Index, the Ministry of Statistics and Program Implementation has released the latest data of retail inflation.
The retail inflation rate in July has been 7.44 percent on an annual basis. This is the highest level of inflation in the last 15 months. While it is 1.44 percent more than the 6 percent limit of RBI. According to the newly updated data, the final retail inflation rate in June was 4.87 percent. Whereas in July 2022 it was 6.71 percent.
Food items became costlier by 11.51%
'Consumer Food Price Index' is most important in the calculation of retail inflation, it shows rising inflation in food items. Accordingly, the 'food inflation rate' in July has been 11.51 percent. That is, food items have become costlier by 11.51 percent.
While the food inflation rate in the cities has been 12.32 percent, it has also reached 11.04 percent in the villages. Overall food inflation in June 2023 was 4.55 percent. Whereas in July 2022 its rate was 6.69 percent. In this way, food items have become costlier almost 3 times on a monthly basis, and on an annual basis also this inflation has almost doubled.
𝐑𝐄𝐓𝐀𝐈𝐋 𝐈𝐍𝐅𝐋𝐀𝐓𝐈𝐎𝐍 for the month of July 2023 is 7.44
Press Release link of 𝐂𝐏𝐈 for the month of July 2023 :-https://t.co/r3i1wk6dEx#KnowYourStats #DataForDevelopment #CPI #Retailinflation
Vegetable-spices extracted the 'oil' of the public
The July figures show that the highest inflation has increased in vegetables and spices. Vegetables have become costlier by 37.34 percent in the month of July. While the inflation rate of spices has been 21.63 percent. Apart from this, the inflation rate of pulses and cereals has been above 13 percent.
At the same time, there has been a decline in the price of oils that used to remove everyone's tears during July. The prices of edible oils have fallen by 16.80 percent. While the sale of meat and fish has decreased due to Sawan and their inflation rate has remained only 2.25 percent.
Highest inflation in Rajasthan-Jharkhand
State-wise, inflation has increased the most in Rajasthan and Jharkhand. In July 2023, the rate of inflation in Rajasthan is 9.66 percent and in Jharkhand it is 9.16 percent. On the other hand, the lowest increase in the inflation rate has been in Delhi. This is only 3.72 percent.
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