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ICICI Direct Report
Consumer price index Inflation for August declined further to 5.3% compared to 5.6% in July 2021.
Inflation print has now declined 100 basis points in two months from 6.3% in June 2021 to the latest print of 5.3%.
The decline in headline inflation in the last two months is largely driven by a fall in food inflation.
Consumer food price index has come down sharply in the last two months from 5.1% in June 2021 to 4.0% in July and to 3.1% now in August 2021.
The favourable base effect of vegetables within food is the major reason for the low food inflation.
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