Inflation rate hits 13.22% - highest jump since Oct 2016

Inflation rate hits 13.22% — highest jump since Oct 2016

Inflation rate hits 13.22% — highest jump since Oct 2016

The consumer price index (CPI)- based inflation came in at 6.7 per cent for August, from 6.73% in July, courtesy food inflation refusing to soften below 9 per cent.

"The percentage change in the average composite CPI for the twelve months period ending August 2020 over the average of the CPI for the previous twelve months period was 12.23 percent, representing a 0.18 percent point rise from 12.05 percent recorded in July 2020", the Report added.

The Reserve Bank of India intends to keep inflation around 4%, a rate that was breached in December when it accelerated to 7.35%.

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Kim continued, clarifying the goal of the collection, saying that "The belly part doesn't slim your belly. This time it involves her shapewear brand, Skims , and her decision to create a maternity collection.

" On a month-on-month basis, the Headline index increased by 1.34 percent in August 2020".

However, in recent months, the central bank has shifted its focus to revival of economic growth from keeping inflation under control, in a move aimed at minimising the fallout from the coronavirus pandemic, which has impacted economic and business activity significantly. "RBI rate cut hopes still remain low at least at the October policy", said Rahul Gupta, head of research-currency at Emkay Global Financial Services. Aditi Nayar, principal economist at ICRA, said the RBI could take a cautious step in terms of monetary stance, in addition to a pause in repo rates, as inflation is unlikely to recede meaningfully this month. The retail inflation has been remaining above 6 percent, the upper band set by the RBI, for nine consecutive months. And will inflation ease going forward? Last month too, the government had revised the CPI data for June to 6.23 per cent from 6.09 per cent. The vegetables segment also witnessed a rise of 11.41 per cent. However, seven of the 14 components within the manufactured products segment have recorded a contraction in the latest month.

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