NEW DELHI, Sept 12 (Askume) – India’s retail inflation in August was slightly higher than economists had expected as vegetable prices rose, government data showed on Thursday.
Annual retail inflation (INCPIY=ECI) stood at 3.65% in August , compared with a revised 3.60% in July. Economists were surveyed earlier by AskumeInflation is estimated to be 3.5% in August.
India’s key inflation index fell below the Reserve Bank of India’s 4% target in July after nearly five years, mainly due to a high base effect.
Food prices, which account for nearly half of retail inflation, rose 5.66% in August and 5.42% in the previous month.
Vegetable prices rose 10.71% year-on-year in August, and 6.83% over the previous month.
