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Published: August 29, 2024
Updated: August 29, 2024

Retail Inflation for Farm, Rural Workers Sees Marginal Dip in July

Inflation Rates Ease

The retail inflation rates for farm workers and rural labourers witnessed a slight decrease in July, standing at 6.17% and 6.20%, respectively. This marginal dip comes after June's rates of 7.02% and 7.04%.

Food, Miscellaneous, and Fuel Groups Drive Inflation

The primary contributors to the rise in the general index for farm workers and rural labourers were food, miscellaneous groups, and fuel and light groups. These categories experienced increases, leading to a 10-point rise in the All-India retail inflation indices for agricultural labourers and rural labourers.

Comparison to Previous Months

July's inflation rates are lower than the previous month's but still higher than the same period last year. The retail inflation rate for farm workers and rural labourers in July 2023 was 7.43% and 7.26%, respectively.

Food Inflation Trends

Food inflation, a persistent challenge, saw a decrease to 5.42% in July, the lowest since June 2023. However, it remains a concern, with increases in previous months, including 9.36% in June, 8.69% in May, and 8.70% in April.

The marginal decrease in retail inflation for farm workers and rural labourers is a positive sign, but the ongoing challenge of food inflation requires continued attention. As the economy navigates these trends, policymakers and stakeholders will closely monitor the situation to ensure the well-being of these critical groups.