India's retail inflation slows to 3.5% in July, falls below RBI's target for the first time in 5 years

India’s retail inflation fell to 3.54% in July, dipping below the Reserve Bank of India's 4% target for the first time in nearly five years. This decline comes after June’s inflation rate of 5.08%, driven by rising food prices. In July, food inflation slowed to 5.42%, and both rural and urban inflation rates decreased, reflecting an overall easing in price pressures
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