Retail inflation surges to 7.44% in July
The HinduRetail inflation resurged in July to hit 7.44% from 4.87% in June, with consumers facing a sharp 11.5% spike in food prices. Wholesale prices Wholesale prices remained in deflationary mode for the fourth month in a row in July, but prices of food and primary articles spiked by over 7.5%, narrowing the overall price dip sharply to -1.36% from the 92-month low of -4.1% recorded in June. At the wholesale level, inflation in primary food articles hit 14.3%, the highest in almost a decade with vegetable prices shooting up 81.1% in July, compared to June, and 62.1% higher than a year ago. Within food articles, potato and fruits were the only items to cool from last July’s levels, dropping 24.4% and 8.9%, respectively, but potato prices were 8% higher compared to June.