NEW DELHI: India's retail inflation based on consumer price index (CPI) snapped a 3-month downward trend in August and surged to 7%, data released by government showed on Monday. The jump has mainly been on account of surge in food prices.
In July, CPI numbers stood at 6.71%. It was the 3rd month in a row when retail inflation numbers had cooled from its 8-year high of 7.79% in April.
Retail inflation is ruling above the Reserve Bank's comfort level of 6% since January. This is the 8th month in a row when inflation figures remained above central bank's tolerance band of 2-6%.
