India’s retail inflation inched lower to 3.15 per cent in July from 3.18 per cent in June and 4.17 per cent in the corresponding month of the previous year.
According to data furnished by the National Statistical Office (NSO), the Consumer Food Price Index (CFPI) inflated to 2.36 per cent during the month under review from an expansion of 2.25 per cent in June 2019 and 1.30 in July 2018.
However, among the non-food categories, the fuel and light segment’s inflation declined on a year-on-year (YoY) basis to (-) 0.36 per cent in July.
Product-wise, prices of vegetables, eggs, meat and fish pushed the retail inflation higher on a YoY basis. In contrast, decline in prices of ‘sugar and confectionery’ capped the overall food inflation.
Accordingly, the prices of vegetables increased by 2.82 per cent, meat and fish by 9.05 per cent, eggs by 0.57 per cent and pulses and its products by 6.82 per cent.
On the other hand, prices of milk-based products rose 0.98 per cent, cereals and its products 1.31 per cent and sugar and confectionery (-) 2.11 per cent.
The sub-category of food and beverages recorded a 2.33 per cent rise in last month over July 2018.