Retail Inflation at 2-Year High, Hits 6.07 Percent in July

The rate of inflation in July was second only to the rate in September 2014 when it was at 6.46 percent.

• Retail inflation shot up to nearly 2 year high of 6.07 percent in July, well above the RBI’s comfortable level, on surge in prices of food items as demand for sugar, oil and fats and spices rose ahead of the festival season.
  
• Inflation was highest since September 2014 when it was at 6.46 percent. Food inflation during the month rose to 8.35 percent, up from 7.79 percent in June.
  
• Government has put inflation targeting at 4 percent with a range of plus/minus 2 per cent for next five years under the new monetary policy framework agreement with the Reserve Bank.
  

(With inputs from PTI.)