Consumer Inflation Eases To 4.17% In July

Consumer Inflation Eases To 4.17% In July

The next bi-monthly policy is to be unveiled on October 5.

The ONS reported that the rate of consumer price inflation, the most-watched measure, increased from 2.4% in June to 2.5% in July, reversing a trend of gradually declining inflation over the course of 2018. Fuel prices, which have been a talking point recently also eased with the fuel inflation coming down to 7.96 per cent in July, from 8.50 per cent last month.

In June, the retail inflation stood at a five-month high of 5 per cent.

"As the temporary factors pushing prices up fade away, inflation is expected to slowly fall back close to the target rate, but that will offer little respite for workers without a significant pickup to their salaries in tandem".

However, inflation in the "fuel and light" segment based on the changes in the CPI increased to 7.96 percent from 7.14 in the previous month.

Economic Affairs Secretary S C Garg said that all macroeconomic parameters are performing well.

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United Kingdom inflation climbed in July as had been expected, according to the latest data from the Office for National Statistics (ONS) released on Wednesday.

ICRA's Nayar said CPI inflation in Q2 FY19 looks set to lag the MPC's estimate of 4.6 per cent, reducing the likelihood of a rate hike in the October policy review.

He said that this category, coupled with the transport and communication group, is expected to exert pressure on retail inflation.

United Kingdom inflation rose to 2.5% in July, according to the Office for National Statistics, up from 2.4% in the previous month. However, a depreciating rupee, which hit an all-time high on Monday at 69.93 against the dollar, and volatile crude oil prices, may lead to considerable uncertainty over inflation.

The latest inflation figures come just 24 hours after the ONS showed that unemployment in the United Kingdom has fallen to just 4%, a low not witnessed since the early 1970s. Price data are received through web portals, maintained by the National Informatics Centre.

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