Lower food prices eased India's July retail inflation on a sequential basis.
Data furnished by the National Statistical Office (NSO) showed that the Consumer Price Index (CPI) slipped to 5.59 percent last month from 6.26 percent in June.
Region wise, the CPI Urban was at 5.82 percent last month from 6.37 percent in June, and the CPI Rural at 5.49 percent in June from 6.16 percent in June.
As per the NSO data, the Consumer Food Price Index fell to 3.96 percent last month from 5.15 percent in June.
The CFPI readings measure the changes in retail prices of food products.
Notably, the macro-economic data assumes significance as it brings retail inflation mark in the range of the Reserve Bank of India's set target of 2-6 percent for CPI inflation.
The declining retail inflation rate reduces the chance of the RBI to further loosen up the monetary policy.
(Published in arrangement with IANS)
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