Retail Inflation Likely Cooled To 5.78% In July: Poll

The August 5-9 poll of 48 economists showed consumer price inflation eased to 5.78 per cent last month from 6.26 per cent in June.

Retail inflation likely slowed to a three-month low in July, bringing it back within the central bank's target range, on falling food prices and an easing of supply chain disruptions, a Reuters poll found. The August 5-9 poll of 48 economists showed consumer price inflation eased to 5.78 per cent last month from 6.26 per cent in June. If realized, it would be the lowest inflation print since May and within the Reserve Bank of India's tolerance band of 2 to 6 per cent - although well above the mid-point. "There's a material drop in edible oil and palm oil prices after tariff reductions and global oil price volatility has eased as well," said Rajni Thakur, chief economist at RBL Bank.