Retail inflation accelerates to 6.07% in July
16/08/2016 00:02
The Government data has revealed that retail inflation accelerated at a faster-than-expected pace to touch a two-year high in July, driven by costlier food. It also crossed the target set by the government earlier this month for consumer inflation. The Consumer Price Index (CPI), the gauge of inflation at the retail level, rose to 6.07 per cent in July, much above the Reserve Bank of India's target of 5 per cent by March 2017, presenting a big challenge for the new governor who will succeed Raghuram Rajan at the central bank next month. The CPI was 5.77 per cent in June, while the median analyst expectation for the current month was 5.9 per cent The RBI left interest rates unchanged in its monetary policy review on August 9, the last under Rajan, citing risks to inflation. As per reports, demand push from higher salaries to government employees could also lift inflation.
16/08/2016 00:02
