CPI inflation rises marginally to 3.2% in August on back of food prices

Among the food items, the sharpest YoY uptick was for vegetables at 6.9%, pulses and products at 6.94%, and meat and fish at 8.51%

Consumer price index-based inflation (CPI) for August crept up slightly to 3.21 per cent year-on-year, compared with 3.15 per cent in July, driven by a sharp rise in food prices. The latest print is still comfortably below the Reserve Bank of India’s (RBI’s) 4 per cent mark, and thus analysts continue to expect further rate cuts by the Monetary Policy Committee. 

Consumer food price inflation (CFPI) for August rose to 2.99 per cent from 2.36 per cent in July, official data released on Thursday showed. CPI for August 2018 was 3.69 per cent, while CFPI was 0.29 per cent. 

“With the CPI