Retail food inflation rate fell to a 13-month low in July

13-Aug-2024 09:06 PM

New Delhi. Official data shows that the retail food inflation rate came down from 9.36 percent in June to 5.42 percent in July 2024, the main reason for which is the base effect.

It is worth noting that in July also the price of pulses and grains remained at a very high level, but the price of some commodities came down from very high levels.

The Consumer Food Price Index increased by 2.81 percent in July 2024. It is noteworthy that in July 2023, the food inflation rate had reached a high of 11.51 percent with an increase of 4.49 percentage points compared to June 2023.

According to analysts, vegetables played an important role in this decline in food inflation. Its inflation rate jumped to 29.3 percent in June, while in July it came down to 6.8 percent.

However, during July 2024, the price of vegetables increased by 14 percent, while the same increase was seen in June.

Compared to last year, the price of potato and onion in July this year was 65.64 percent and 60.54 percent higher respectively. As far as tomato is concerned, its price jumped by 202 percent in July 2023, but this year it decreased by 42.91 percent.

The inflation rate in pulses was 16.07 percent in June, which was recorded at 14.77 percent in July. Under this, the price of tur increased the most by 22.52 percent, while gram dal increased by 20.55 percent and moong by 7.56 percent.

The price of cereals was 8.14 percent high, in which rice and wheat mainly contributed. Refined edible oil softened by 4.79 percent, while the overall inflation rate in edible oils also decreased by 1.17 percent. The prices of spices also increased less in July compared to June.