In July, the retail inflation rate in the country has come down to 6.71 percent. Earlier in June, retail inflation stood at 7.01 per cent.
In July, the retail inflation rate in the country has come down to 6.71 percent.
In July, the retail inflation rate in the country has come down to 6.71 percent. Earlier in June, retail inflation stood at 7.01 per cent. The government has released this data on Friday.
What is CPI based inflation?
Let us tell you that when we talk about inflation rate, here we are talking about inflation based on Consumer Price Index (CPI). The CPI tracks the change in retail prices of goods and services that households buy for their daily use.
To measure inflation, we estimate the percentage increase in the CPI during the same period last year. RBI keeps an eye on this figure to keep prices stable in the economy.
The CPI measures the retail prices for a particular commodity. These are seen at the level of rural, urban and all over India. The change in the price index over a period of time is called CPI based inflation or retail inflation.
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