Mumbai: Retail inflation in the country declined to 6.83% in August. The easing food prices are the main reason for this. Data released by the National Statistical Office (NSO) revealed this.
The Consumer Price Index (CPI) based inflation was at 7.44% in July and at 7% in August 2022. Food inflation eased to 9.94% in August from 11.51% in July. The Reserve Bank of India (RBI) has projected the CPI inflation at 5.4% for 2023-24.
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Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
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