Retail inflation decline to 6.83 percentage

The overall inflation rate for food items in August was 9.94 percent, down from 11.51 percent in July, according to data released by the National Statistical Office (NSO) on Tuesday.

Retail inflation, as measured by the Consumer Price Index (CPI), stood at 7 percent in August 2022.

Although retail inflation decreased to 6.83 percent in August, it still exceeds the Reserve Bank of India's (RBI) comfort level.

According to the data, the inflation rate for vegetables decreased to 26.14 percent in August, compared to 37.4 percent in July.

Prices of 'oil and fats' products declined by 15.28 percent in August. Additionally, there was low inflation in 'meat and fish,' 'eggs,' 'sugar and confectionery,' 'non-alcoholic beverages,' 'fruits,' and 'prepared meals and snacks' on an annual basis.

The data also revealed that inflation in the 'housing' sector was at 4.38 percent, and 'fuel and light' at 4.31 percent.

Aditi Nayar, Chief Economist and Head of Research & Outreach at the rating agency ICRA, stated that within the category of food items, inflation in vegetables dropped to 26.1 percent in August from 37.4 percent in the previous month