RBI's September 2021 bulletin said inflation outcome for August 2021 "vindicated" the Monetary Policy Committee's suggestion for treating the May price shock as transitory
Consumer price inflation accelerated to 3.2 per cent in the 12 months through August from 2per cent the previous month, the Office for National Statistics said on Wednesday
The steepest fall in the CPI numbers for agricultural and rural labourers was experienced by Tamil Nadu
The Consumer Price Index (CPI) based inflation was 6.26 per cent in June and 6.73 per cent in July 2020.
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The impact of higher fuel prices and input costs of manufacturing units has led to both wholesale and retail inflation rising beyond RBI’s preferred comfortable level of 6 per cent for the last few months.
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As per the Office for National Statistics the annual rate of inflation rose to 2.5% in June from 2.1% the previous month
Inflation accelerated to 2.1 per cent in the 12 months through May from 1.5 per cent in April, the Office for National Statistics said Wednesday.
As of Monday, the 5y5y was trading at 2.28per cent, an indication that annual inflation will be close to the Federal Reserve's 2per cent target.
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This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation.
Drop attributed to easing of food prices
The WPI inflation was 2.03 per cent in January and 2.26 per cent in February last year.
Prices of potato, tomato, onion, wheat flour, pulses, LPG, petrol and diesel are skyrocketing, becoming difficult for the poor to make ends meet: Oppt Leader
RBI Governor Shaktikanta Das also said that inflation is likely to remain elevated throughout winter
Goyal in an interview says the management of the Covid-19 pandemic helped in avoiding multiple Covid-19 peaks.
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Pope Francis gives the thumbs up as he leaves after his weekly general audience in the Paul VI Hall at the Vatican.AP Photo/Alessandra Tarantino
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