Current Trends in Indian Economy
Retail inflation surges
- Retail inflation resurged in July to hit 7.44% from 4.87% in June, with consumers facing a sharp 11.5% spike in food prices.
- This is the highest pace of retail inflation since April 2022 and the first time since September 2022 that price rise has been over 7%.
- Vegetable prices soared 37.3%, mainly due to tomato, while cereals and pulses became over13% costlier, lifting the food bill by over 12.3% for urban consumers, while rural consumers encountered 11% food inflation.
