New Delhi: Retail inflation rose to 6.93 percent in July. Inflation has increased mainly due to an increase in food prices. According to official data released on Thursday, the inflation in June was 6.23 percent. According to the Consumer Price Index (CPI) data, inflation in food articles stood at 9.62 percent in July. Whereas in the previous month, it was 8.72 percent in June. This is the second consecutive month when retail inflation has been above the Reserve Bank’s satisfactory level.
The government has given the central bank the responsibility to keep inflation at the level of 4 percent with a two percent increase. In the bi-monthly monetary policy review, the Reserve Bank mainly looks at retail inflation.
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