Mint Explainer: Why is retail inflation at a 15-month high?
New Delhi: Consumer Price Index (CPI)-based inflation shot past estimates to hit a 15-month high of 7.44% during July. Mint explains why Why did retail inflation rise so sharply during July?
The CPI inflation soared to a much sharper-than-expected 15-month high of 7.44% in July 2023 from 4.9% in June 2023, due to vegetables, as well as some other food items such as pulses, spices and cereals. Excluding vegetables, the increase in the CPI inflation print was relatively tolerable, to 5.4% in July 2023 from 5.2% in the previous month. Barring food and beverages, the inflation in all other groups eased in July 2023 against June 2023, offering some relief.