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Lower food prices ease India's August retail inflation

Lower food prices eased India's August retail inflation to 3.69 per cent from 4.17 per cent in July, official data showed on Wednesday.

However, on a year-on-year (YoY) basis, the Consumer Price Index (CPI) in August 2018 was higher than in the corresponding period last year when it stood at 3.28 per cent.

According to the data furnished by the Central Statistics Office (CSO), the Consumer Food Price Index (CFPI) rose 0.29 per cent in August from 1.30 per cent in July 2018.

Product-wise, prices of milk-based products, eggs, meat and fish pushed the retail inflation higher on a YoY basis.

In contrast, deflation in the cost of vegetables, pulses and sugar capped the overall food prices.

Accordingly, the prices of milk-based products rose by 2.66 per cent while cereals became dearer by 2.98 per cent and meat and fish prices recorded a rise of 3.21 per cent.

On a sub-category basis, vegetables' prices reduced on YoY basis in August became by (-) 7 per cent.

On the other hand, the category of "pulses and products" became cheaper by (-) 7.76 per cent and that of "sugar and confectionery" by (-) 5.45 per cent.

The sub-category of food and beverages during the month under consideration recorded a rise of 0.85 per cent over the same period last year.

Among non-food categories, the "fuel and light" segment's inflation rate accelerated to 8.47 per cent in August.

--IANS

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