“India’s retail inflation rose sharply to 7.44% in July due to surging food costs.” (BLOOMBERG)

Sharing is Caring!

Retail inflation in July breached the upper-end of the Reserve Bank of India’s tolerance level for the first time in five months due to surging food costs, reinforcing the central bank’s concern over uneven monsoon rains affecting crop production.

See also  European Central Bank Warns Surging Government Debt Is "Potential Threat"

The consumer price index rose to a 15-month high of 7.44% from a year earlier, according to government data Monday. That’s faster than a median forecast for a 6.5% gain in a Bloomberg survey of economists, and a revised reading of 4.87% in June.

 

https://www.bloomberg.com/news/articles/2023-08-14/india-inflation-breaches-rbi-target-in-july-as-food-costs-jump


Views:

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.