Inflation in India falls to five-year low
Food inflation is also at its lowest level for more than a year
Annual consumer price index (CPI) inflation in India fell from 5.08% in June to reach 3.54% in July – a five-year low and below the central bank’s 4% target.
The figures, published by the Ministry of Statistics and Programme Implementation on August 12, came a few days after the Reserve Bank of India (RBI) held its repurchase rate at 6.5%.
The RBI cited persistently high levels of food inflation as the reason for its decision. However, the figures released this week show food inflation slowed to 5
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