One of the most essential thing in Good Governance is the stability in Core Inflation. Despite, modifying the constituents and benchmarks to suit to the reportable needs of the Government, Inflation refuses to come down as Commission Agents & Traders get Rich quicker.
CPI inflation jumped to ~6.9% YoY in July, up 70bps from June. Fresh spike in vegetables and sustained rise in commodities (oil, gold, etc) pushed headline higher. Amongst components, food inflation picked up 80bps to 8.7% YoY. The high and rising food inflation was driven by spike in perishables like vegetables, meat and fish. But other items such as cereals, pulses, milk and