Retail Inflation Rises Sharply Due To Food Prices, Highest In 15 Months
India's retail inflation in July jumped to 7.44 per cent from 4.87 per cent in June, government data showed on Monday. The inflation, based on Consumer Price Index (CPI), is now once again above the RBI's comfort band of 2-6%. The figures had stayed within the RBI's comfort zone for four straight months, dipping to an over two-year low of 4.25% in May 2023. However, in July, the spike in retail inflation came amid asurge in prices of tomatoes and other vegetables due to shortfall during the monsoon season.