Retail inflation inches up to 7% in Aug on account of costlier food items

• Retail inflation inched up to 7% in August from 6.71% in July.
• The inflation is above the Reserve Bank's comfort level of 6% for the eighth month in a row.
• The inflation in the food basket was 7.62% in August, up from 6.69% in July.

Retail inflation inched up to 7 per cent in August from 6.71 per cent in July mainly due to higher food prices, government data showed on Monday. The consumer price index-based inflation is above the Reserve Bank's comfort level of 6 per cent for the eighth month in a row.

According to the data, inflation in food basket was 7.62 per cent in August, up from 6.69 per cent in July and 3.11 per cent in August 2021.

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