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Retail Inflation Eases Further to 5.3 Percent in August | Important Details Inside

New Delhi: Retail inflation fell marginally to 5.3 percent in August mainly due to easing food prices, official data showed on Monday. The retail inflation based on the Consumer Price Index (CPI) was 5.59 percent in July and 6.69 percent in August 2020.Also Read – Unemployment Rate Touches 8.3 Percent in August, Says CMIE; 1.9 Million Indians Lost Jobs

As per the data released by the National Statistical Office (NSO), inflation in the food basket was 3.11 percent in August compared to 3.96 percent in the preceding month. Also Read – India’s GDP Grows at Over 20 Per Cent in April-June Quarter | Details Here

The Reserve Bank had kept the key interest rate unchanged in its monetary policy review in August. It focuses mainly on the CPI while deciding its bi-monthly monetary policy. Also Read – ‘Go to Taliban, Petrol Cheaper in Afghanistan’: BJP Leader Tells Journalist When Asked About Rising Fuel Prices | Watch

The RBI has projected the CPI inflation at 5.7 percent during 2021-22 — 5.9 percent in the second quarter, 5.3 percent in the third, and 5.8 percent in the fourth quarter of the fiscal, with risks, broadly balanced. CPI inflation for Q1 2022-23 is projected at 5.1 percent.

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