CPI-based inflation surges to 7.44% in July on 11.51% retail food inflation

India’s consumer price index (CPI)-based inflation rose sharply to 7.44 per cent in July, according to data released by the Ministry of Statistics  and Programme Implementation (MoSPI) on Monday. This is considerably higher than 4.87 per cent in June.

In July last year, the CPI inflation was at 6.71 per cent. 

The rise in inflation is primarily due to food inflation, which came in at 11.51 per cent. In June, the food inflation was 4.55 per cent and in July 2022, it was 6.69 per cent. 

The rural inflation in July stood at 7.63 per cent. The urban inflation for the same month stands at 7.2 per cent. 

Food inflation for rural India was 11.04 per cent and urban was at 12.32 per cent, the official data showed.

This is the highest retail inflation since May 2022 when it was recorded at 7.79 per cent.