look news india
Dearness: There has been some relief on the food inflation front. In the month of August, a broad softening trend has been observed in the prices of food grains, pulses and edible oil.
According to the bulletin on economy released by the Reserve Bank of India (RBI) on Monday, headline inflation, measured by year-on-year change in the CPI, fell from 5.1 per cent in June to 3.5 per cent in July last week.
RBI's August bulletin said that the 1.54 per cent decline in inflation has a favourable comparative base of 2.9 per cent. This has had a positive impact of over 1.4 per cent.
The team led by Reserve Bank Deputy Governor Michael Debabrata Patra said that the food price data for the month of August showed that the prices of food grains, pulses and edible oil have broadly softened, among vegetables, the prices of potatoes remain high, while the prices of onions and tomatoes remain high. Prices have come down.
