Retail inflation dips to 5.3% in August


The Reserve Bank had kept the key interest rate unchanged in its monetary policy review in August

Retail inflation fell marginally to 5.3% in August mainly due to easing food prices, official data showed on Monday.

The retail inflation based on the Consumer Price Index (CPI) was 5.59% in July and 6.69% in August 2020.

As per the data released by the National Statistical Office (NSO), inflation in the food basket was 3.11% in August compared to 3.96% in the preceding month.

The Reserve Bank had kept the key interest rate unchanged in its monetary policy review in August. It focuses mainly on the CPI while deciding its bi-monthly monetary policy.

The RBI has projected the CPI inflation at 5.7% during 2021-22 โ€” 5.9% in the second quarter, 5.3% in third, and 5.8% in the fourth quarter of the fiscal, with risks broadly balanced. CPI inflation for Q1 2022-23 is projected at 5.1%.

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