According to Suresh Narayanan, Chairman and Managing Director of food & beverages major Nestle India, the menace of food inflation remains a concern even after two years of high inflationary cycle.
Inflation rose slightly to a 3.2% rate for the year ending in July, the first increase after a full year of declines, the Bureau of Labor Statistics reported on Thursday in an update to the consumer price index.
The finance ministry said that the core inflation calculated by excluding food and fuel was recorded at 5.9 percent in August 2022, remaining below the tolerance limit of 6 percent for the fourth consecutive month. It further said that prices of major inputs like iron ore and steel have sobered in the global markets.
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