Consumer prices in India rose 1.55 per cent on-year in July after climbing 2.1 per cent in June, the country’s statistics office said in a report.
This is the slowest rate of rise since June 2017, when inflation stood at 1.54 per cent and was the lowest ever recorded when the index was calculated.
Analysts had forecast price growth to slow to 1.76 per cent last month, according to Trading Economics surveys.
Groceries fell 1.76% in July after a 1.06% decline a month earlier, with vegetable prices in particular falling 20.7%. Growth in the cost of transport and communication services slowed to 2.12% from 3.9%, while utilities slowed to 3.17% from 3.24%.
Consumer prices in India rose by 0.9% in July relative to the previous month. In June, the indicator increased by 0.6%.