Retail Inflation Eases To 1.55% In July, Lowest In Eight Years

India's retail inflation eased further in July, coming in at the lowest in the last eight years, with the decline led by a fall in prices of food items.

The consumer price index-based inflation moderated to 1.55% in July, from 2.1% in June, according to data from the Ministry of Statistics and Program Implementation on Tuesday.

The CPI inflation was higher than economist estimates. Inflation was projected to ease to 1.4% in July, according to a median forecast of economists polled by Bloomberg. This was also the sixth straight month when inflation was below the Reserve Bank of India's 4% target.

(This is a developing story)