The retail inflation or Consumer Price Index (CPI) for the month of August marginally fell to 5.3 percent due to the easing of food prices, says official data.
The data released by National Statistical Office (NSO) reads that the CPI slipped to 5.30 percent in August from 5.59 percent in July. The retail inflation rate was much less in July as compared to 6.69 percent in August the previous year.
The RBI has projected the CPI inflation at 5.7 percent during 2021-22, 5.9 percent in the second quarter, 5.3 percent in the third quarter, and 5.8 percent in the fourth quarter of the current fiscal year. Region-wise, the CPI in urban fell to 3.28 percent from last month’s 4.56 percent. Whereas, in rural, the CPI came down to 3.08 percent from 3.55 percent.
The macroeconomics data suggest a significance as it brings retail inflation mark in the range of the RBI’s set target of 2-6 percent for CPI inflation.