26th September 2021

Confidant Classes

Competitors' very first choice

Home | Analysis | Retail inflation in August stood at 6.69 percent

Retail inflation in August stood at 6.69 percent

India’s retail inflation for the month of August stood at 6.69 percent, according to data released by the National Statistical Office (NSO) on September 14. The consumer price index (CPI)-based inflation rate for July has been revised to 6.73 percent from 6.93 percent.

  • The combined food price inflation (CFPI) for August stood at 9.05 percent, against 9.27 percent (revised) in July.
  • Inflation in the vegetables basket came in at 11.41 percent in August, against 11.29 percent in July. In the fuel and light segment, inflation for the same month was 3.10 percent, against 2.80 percent in July.
  • In cereals and related products, inflation stood at 5.92 percent in August against 6.96 percent in July. In meat and fish, it stood at 16.50 percent against 18.81 percent a month ago.
  • For pulses and products, it stood at 14.44 percent in August, against 15.92 percent in July.
  • The consumer price index (CPI) data for the months of April and May were not released by the Centre due to insufficient data collection amid the coronavirus pandemic and the lockdown that followed.
  • In the last two consecutive quarters (January – March of FY 2019-20 and April – June of FY 2020-21), the average consumer price index-based inflation breached 6 percent.
  • The Monetary Policy Committee (MPC) needs to target inflation to keep it within 4 percent, within a band of +/- 2 percent.
  • During its policy announcement last month month, the Reserve Bank of India (RBI) said it expects headline inflation to remain elevated in the second quarter of FY 2020-21.
  • RBI Governor Shaktikanta Das said food prices are expected to increase in the near term, due to broken supply chains as a fallout of the COVID pandemic.
  • Overall inflation is expected to remain elevated in the near term because of costly petrol and diesel prices.
  • The central bank’s Monetary Policy Committee had kept the repo rate unchanged at 4 percent and maintained its accommodative stance. Repo rate is the rate at which the RBI lends funds to commercial banks.
Judiciary FAQ’s Download

Judiciary FAQ’s Download

WWW.CONFIDANTCLASSES.IN-1Download
Read More
Daily NEWS Summary | 25-09-2021

Daily NEWS Summary | 25-09-2021

Diversity is the identity of our strong democracy, Modi tells the United Nations General Assembly Daily NEWS Summary | 25-09-2021;…
Read More
Daily NEWS Summary | 23-09-2021

Daily NEWS Summary | 23-09-2021

Pegasus case | Supreme Court panel may investigate allegations Daily NEWS Summary | 23-09-2021; India’s Chief Justice N.V. Ramana indicated…
Read More
Daily NEWS Summary | 22-09-2021

Daily NEWS Summary | 22-09-2021

The UK includes Covishield on the list of recognized vaccines, but India remains on the “Amber” list Daily NEWS Summary…
Read More
Daily NEWS Summary | 21-09-2021

Daily NEWS Summary | 21-09-2021

India considers ‘reciprocal’ measures for UK quarantine rules Daily NEWS Summary | 21-09-2021; India could impose “reciprocal measures” on the…
Read More
Daily NEWS Summary | 20-09-2021

Daily NEWS Summary | 20-09-2021

Charanjit Singh Channi sworn in as Chief Minister of Punjab Daily NEWS Summary | 20-09-2021; Congress MLA Charanjit Singh Channi…
Read More
Daily NEWS Summary | 19-09-2021

Daily NEWS Summary | 19-09-2021

Charanjit Singh Channi to be Punjab’s next chief minister Daily NEWS Summary | 19-09-2021; The All India Congress Committee (AICC)…
Read More
Daily NEWS Summary | 18-09-2021

Daily NEWS Summary | 18-09-2021

The captain goes down Daily NEWS Summary | 18-09-2021; The Chief Minister, Captain (retired) Amarinder Singh, resigned his post and…
Read More
Daily NEWS Summary | 17-09-2021

Daily NEWS Summary | 17-09-2021

Supreme Court Collegium  in mission mode; fill vacancies at breakneck speed Daily NEWS Summary | 17-09-2021; Supreme Court Collegium, led…
Read More
Daily NEWS Summary | 16-09-2021

Daily NEWS Summary | 16-09-2021

The Center agrees to reinstate Justice Cheema as Acting President of the NCLAT after the Supreme Court threatened to suspend…
Read More
Daily NEWS Summary | 15-09-2021

Daily NEWS Summary | 15-09-2021

Supreme Court gives government two weeks to appoint all courts, accuses Center of cherry picking Daily NEWS Summary | 15-09-2021;…
Read More
error

Enjoy this? Please spread the word :)