Retail inflation data for July 2023: In July 2023, the retail inflation rate once again jumped to over 7 percent due to a healthy increase in the prices of other food items, including tomatoes. CPI inflation rose to 7.44 percent in July from 4.81 percent in June 2023. In July, retail inflation crossed the upper slab of the RBI’s tolerance band of 6 percent.
Expensive food items
According to the data released by the Ministry of Statistics, the rate of inflation of food items has increased tremendously. The rate of food inflation in July was 11.51% as against 4.49% in June.