3 weeks ago
India's Retail Inflation Rises to 4.45% on Food Prices
Inflation is a word grown-ups use when prices of things we buy go up.
When inflation goes up, your pocket money might not buy as many candies as before.
In July, prices in India went up a little more than they did in June.
The number that shows how much prices went up was 4.45 percent.
That is higher than June's number of 4.38 percent.
A big reason for this was food.
Food prices went up by 5.52 percent in July.
That is more than the 5.32 percent in June.
The Reserve Bank of India watches these numbers to keep price rises steady.
It decided not to change its lending rate this month because of worries about prices.
Retail inflation based on the consumer price index rose to 4.45% in July, up from 4.38% in June.
Food inflation climbed to 5.52% in July, compared with 5.32% in the previous month.
The figures were released by the National Statistics Office (NSO) on Wednesday.
The Reserve Bank of India kept its short-term lending rate unchanged earlier this month, citing inflationary concerns.
The RBI is tasked with keeping CPI inflation at 4% with a margin of 2 percentage points on either side.
- Who
- The National Statistics Office (NSO) released the data, while the Reserve Bank of India is responsible for controlling inflation.
- What
- Retail inflation rose to 4.45% in July, driven by higher food prices.
- Where
- India.
- When
- In July, with the government data released on Wednesday.
- Why
- Higher food prices pushed the consumer price index-based inflation upward.
Key facts
- July CPI inflation
- 4.45%
- June CPI inflation
- 4.38%
- July food inflation
- 5.52%
- June food inflation
- 5.32%
- Inflation target
- 4% with a 2 percentage point margin on either side
- Data source
- National Statistics Office (NSO)
- RBI action
- Kept short-term lending rate unchanged, citing inflationary concerns
Sources
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