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August saw a drop in food prices that causes retail inflation to drop to 6.83%


<p>According to official figures, retail inflation decreased to 6.83 percent in August from July mostly as a result of falling food costs.<img decoding=”async” class=”alignnone wp-image-176694″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-august-saw-a-drop-in-food-prices-that-causes-retail-inflation-to-drop-to-6-83-down.jpg” alt=”theindiaprint.com august saw a drop in food prices that causes retail inflation to drop to 6 83 down” width=”1153″ height=”767″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-august-saw-a-drop-in-food-prices-that-causes-retail-inflation-to-drop-to-6-83-down.jpg 275w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-august-saw-a-drop-in-food-prices-that-causes-retail-inflation-to-drop-to-6-83-down-150×100.jpg 150w” sizes=”(max-width: 1153px) 100vw, 1153px” title=”August saw a drop in food prices that causes retail inflation to drop to 6.83% 6″></p>
<p>According to statistics provided by the National Statistical Office (NSO) on Tuesday, consumer price index (CPI)-based inflation was 7.44 percent in July and will reach 7 percent in August 2022.</p>
<p>From 11.51 percent in July to 9.94 percent in August, food inflation decreased.</p>
<p>For the years 2023–2024, the Reserve Bank of India (RBI) expects CPI inflation to be 5.4%.</p>
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