India's retail inflation rises to 7% in August as compared to 6.71% in July due to higher food prices

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 the 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.