India: Consumer price inflation decelerates in July
In July, consumer prices rose 0.91% compared to the previous month, up from June’s 0.63% increase, partly due to higher prices for food and beverages, which more than outweighed a decrease in energy prices.
Consumer price inflation decelerated to 3.1% in July from 3.2% in June. Lower prices for energy weighed on inflation in July. Inflation therefore remains below the midpoint of the Reserve Bank of India’s (RBI) target range of 2.0%–6.0%.
Wholesale prices decreased 0.25% in July compared to the previous month, down from the revised 0.08% drop in June (previously reported: +0.25% month-on-month). July’s decrease was primarily due to lower prices for fuel and energy. Wholesale price inflation decelerated to 1.1% in July, down from 2.0% in June.