Retail inflation eased marginally in July to 3.15% over the previous month despite costlier food items, said a government data released on August 13 evening.
The retail inflation based on Consumer Price Index (CPI) was 3.18% in June and 4.17% in July 2018.
As per the data released by the Central Statistics Office (CSO), the inflation in the food basket was 2.36% in July, marginally up from 2.25% in the previous month.
Retail inflation is well below the Reserve Bank of India’s (RBI’s) comfort level. The government has asked the central bank to keep inflation in the range of 4%.
The RBI mainly factors in retail inflation in its bi-monthly monetary policy.