Inflationary pressures continued to soften as consumer price index (CPI) based inflation slows for ninth straight month. Indias CPI inflation eased to near 8-year low of 1.55% in July amid sustained cooling in food price increases. This marks the first time in over six years that inflation has fallen below the Reserve Bank of Indias 2% to 6% tolerance band. Data showed that food inflation, which accounts for nearly half of the Consumer Price Index (CPI) basket, stood at -1.76% in July as against -1.06% last month.
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