India’s retail inflation fell to 3.54% in July, a near five-year low, as food prices eased from previous highs due to a base effect, according to data released by the Centre.
In July, the corresponding inflation rate for rural areas was 4.10% and for urban areas, 2.98%, said the Ministry of Statistics & Programme Implementation.
The retail inflation stood at 5.08% in June, 4.80% in May and 4.83% in April.
Food inflation was the lowest since June 2023, according to the ministry. The combined Consumer Food Price Index was 5.42% in July 2024, compared to 11.51% in July 2023.
“During the month of July 2024 there is a decline in inflation for all the groups,” said the Centre in a press release. “Significant decline is in the vegetables, fruits and spices subgroup.”
Pulses saw the highest jump in price, increasing 14.77% year-on-year. This was followed by cereals, with an 8.14% inflation rate, and vegetables with a 6.83% inflation rate.
Bihar had the highest inflation…