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News9 Live on MSNRetail inflation in July slips to 8-year low of 1.55%
Retail inflation slipped to an eight-year low of 1.55 per cent in July mainly due to subdued prices of food items, including vegetables and cereals, according to government data released on Tuesday.
India's retail inflation stayed below the central bank's 4% target for the fourth straight month in May on easing food prices, reinforcing the case for last week's surprise steep interest rate cut.
The June inflation figures were a modest acceleration from May, when overall prices were up 2.4 percent from a year earlier, and a bit hotter than forecasters had expected.
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