The inflation rate in July 2024 is the lowest in the last 59 months, a PIB press release stated.
According to the CPI data, the inflation rate in July 2024 is 3.54 percent, while the inflation rate in rural and urban areas is 4.10 percent and 2.98 percent, respectively.
The country is witnessing a significant decline in inflation rates. The inflation rate in July 2024 is 3.54 percent, the lowest in the last 59 months. The inflation rate in rural and urban areas is 4.10 percent and 2.98 percent, respectively. This is the lowest inflation rate since June 2023.
The All India Consumer Price Index (CPI) is a key indicator of the country’s economic activity. It provides a comprehensive overview of the changing cost of living and helps in assessing the effectiveness of economic policies. The inflation rate is calculated by comparing the prices of crude goods and services over the previous year.