Business & Economy

India's retail inflation rate goes upto 6.07% in July 2016

NetIndian News Network

New Delhi, August 12, 2016

India's annual consumer price infation went up for the fourth consecutive month to 6.07 percent in July 2016 from 5.77 percent in the previous month and 3.69 percent in the same month of the previous year.
An official press release said the inflation rates based on the Consumer Price Index (CPI) were 6.66 percent in rural areas and 5.39percent in urban areas, making for a combined rate of 6.07 percent in July.
The inflation rates based on the Consumer Food PriceIndex (CFPI) were 8.25 percent in rural areas and 8.80 percent in urban areas, adding up to a combined rate of 8..35 percent, up from 7.79 percent in the previousmonth and 2.15 percent in the same month of last year.
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, had revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for January last year. In this revised series, many methodological changes have been incorporated in order to make the indices more robust.
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