Retail inflation for farm, rural workers eases marginally in August
Business | September 20, 2021 19:27 ISTThe CPI-based inflation for farm and rural workers stood at 3.92 per cent and 4.09 per cent, respectively in July this year.
The CPI-based inflation for farm and rural workers stood at 3.92 per cent and 4.09 per cent, respectively in July this year.
Inflation in food articles eased for the fourth straight month, recording (-) 1.29 per cent in August, from zero per cent in July, even as onion and pulses prices spiked.
As per the data released by the National Statistical Office (NSO), inflation in the food basket was 3.11 per cent in August compared to 3.96 per cent in the preceding month.
The RBI had decided to use the 2 percentage point cushion to keep the inflation within the 2-6 percent target band as a result of the pandemic to push growth, Das said, adding that the Monetary Policy Committee (MPC) will take a call on continuing with the accommodative stance.
Rahul Gandhi on Wednesday had attacked the government on inflation.
Hitting out at the Centre, Rahul Gandhi said, "Farmers, labourers, small and medium businesses, MSMEs, salaried class, government employees and honest industrialists are being demonetised. Who is being monetised? 4-5 friends of Narendra Modi ji - economic transfer is being done."
The all-India CPI-IW (Consumer Price Index-Industrial Workers) for July 2021 increased by 1.1 points and stood at 122.8 points. It was 121.7 points in June 2021.
There has been no formal announcement about the opening of government banks while private banks have announced to remain closed indefinitely.
WPI inflation remained in double-digit for the third consecutive month in July, mainly due to a low base of last year. WPI inflation was (-) 0.25 per cent, in July 2020.
Retail inflation eased to 5.59 per cent in July mainly due to softening food prices, according to official data released on Thursday. The Consumer Price Index (CPI) based inflation was 6.26 per cent in June and 6.73 per cent in July 2020.
The protest was organised as part of the party's events held across the country to mark the anniversary of 'August Kranti' -- the 'Quit India' call by Mahatma Gandhi in 1942.
According to the statement, food inflation stood at 5.61 per cent against 5.26 per cent in May 2021 and 5.49 per cent in June 2020. The All-India CPI-IW (Consumer Price Index for Industrial Workers) for June 2021 increased by 1.1 points and stood at 121.7 points.
"The path of the economy continues to depend on course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain," the Fed said in a statement after concluding a two-day meeting, Xinhua reported.
Mallikarjun Kharge, LoP in the Rajya Sabha said that the issues like inflation, poverty, COVID crisis were kept in front of Venkaiah Naidu in the meeting. He said, "Around 16-17 issues like inflation, poverty, COVID crisis were kept in front of Venkaiah Naidu in the meeting.
Snapping the five straight months of uptick, the wholesale price index (WPI)-based inflation in June softened as prices of food articles and crude oil eased, even though manufactured products hardened.
Inflation based on the Consumer Price Index (CPI), however, remained above the Reserve Bank's comfort level for the second month in row.
The so-called core personal consumption expenditure price index, the Fed's preferred inflation measure, jumped 3.4 per cent in May from a year ago, the largest 12-month increase since April 1992, Xinhua news agency quoted the Dept as saying on Friday.
At the start of the pandemic, food supply chain disruptions, a shift from food services (such as dining out) towards retail grocery and consumer stockpiling (coupled with sharp appreciation of US dollar) pushed up consumer food price indices in many countries.
The Congress on Thursday said it will launch a nationwide protest campaign from July 7 to 17 to highlight the plight of the people and alleged government apathy towards the public.
India’s retail inflation surged to 6.30 per cent in the month of May, over and above the Reserve Bank of India’s (RBI) threshold of 6 per cent, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed on Monday.
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