New Delhi. On the one hand, where the opposition party is attacking Modi at the Center due to rising inflation. On the other hand, today a good news has come out for the common man suffering from inflation. On Friday, a relief news has come from the retail inflation front. Good Friday has proved to be good for the central government in terms of inflation. In fact, in the month of July, there has been a decrease in the retail inflation rate. Inflation rate has come down to 7 percent in this month. The retail inflation rate in July has been 6.71%, compared to 7.01 percent in June last month. Earlier it was 7.04 percent in May, 7.79 percent in April.
Let us tell you that due to the decrease in the prices of many commodities including crude oil, the retail inflation rate has come down in the month of July. Apart from this, there has been a decline in freight traffic due to the reduction of excise duty on petrol and diesel. As a result, inflation has come down.
Retail inflation down to 6.71% in July in comparison to 7.01% in June: Govt of India
— ANI (@ANI) August 12, 2022
However, this is more than the fixed figure of the Reserve Bank. In July, the retail inflation rate has remained above the fixed figure of the Reserve Bank. Let us tell you that earlier in the financial year 2022-23, it has increased its estimate of inflation from 5.7 percent to 6.7 percent. The government has mandated the RBI to keep retail inflation at 4 per cent with a margin of 2 per cent.