EconomyPreparing for action on inflation, Government of India working closely with RBI

Preparing for action on inflation, Government of India working closely with RBI

The Government of India is going to release the inflation data for the month of July on Friday, August 12, it is estimated that the retail inflation rate of the country may be less than 7 percent in the month of July.

The Government of India is working closely with the Reserve Bank of India (RBI) to control inflation and related measures. The news agency Reuters gave this information in a report on Thursday, August 11, quoting sources. Sources said the inflationary pressure has not eased yet. But due to the fall in the prices of food items like crude oil and edible oil, these are expected to come down further.

Let us tell you that on Friday, August 12, the inflation data for the month of July is going to be released. It is estimated that in the month of July, the retail inflation rate of the country may be less than 7 percent. If this happens, it will be the third consecutive month that the inflation rate will decline. According to a Reuters poll, food and fuel prices have seen a fall in July and due to this, retail inflation is likely to come down to 6.78% this month.

At the same time, according to a poll conducted by Moneycontrol among 18 economists, the inflation rate may fall to 6.7 percent in the month of July. Letus tell you that the Consumer Price Index (CPI) based inflation rate was recorded at 7.01 percent in June. It was 7.04 percent in May.

According to economists, retail inflation is likely to moderate in July due to a fall in prices of some key commodities as well as a fall in food prices. Data from the Department of Consumer Affairs shows that prices of all six edible oils fell in July as compared to June. Its data is also available. Edible oils. saw a fall in prices of 0.4 per cent to 6.4 per cent.

On the other hand, the prices of pulses also fell widely in July. The prices of tur and urad dal have increased by 1.1 per cent and 0.2 per cent, respectively, on a month-on-month basis. While the prices of gram, moong and masoor dal have declined by 0.2 to 0.4 per cent.

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