Retail inflation declines to 6.83% in August on falling food prices

Retail inflation declined to 6.83 per cent in August compared to July, mainly due to easing food prices, according to official data.

The Consumer Price Index (CPI) based inflation was at 7.44 per cent in July and at 7 per cent in August 2022, as per the data released by the National Statistical Office (NSO) on Tuesday.

Food inflation eased to 9.94 per cent in August from 11.51 per cent in July.

The Reserve Bank of India (RBI) has projected the CPI inflation at 5.4 per cent for 2023-24.