Himanta Biswa Sarma hails PM Modi for decade of growth and low inflation

Assam Chief Minister Himanta Biswa Sarma on August 19 said that over the last decade, India has been able to maintain a high growth and low inflation trajectory.  He said that this has been possible due to the pragmatic policies of Prime Minister Narendra Modi and further added that Prime Minister Modi keeps the poor and middle class at the core of his governance agenda.

There is sharp decline in the Year-on-year inflation rate based on All India Consumer Price Index (CPI) number for the month of July, 2024, which is the lowest in the last 59 months.

Year-on-year inflation rate based on All India Consumer Price Index (CPI) number is 3.54% (Provisional) for the month of July, 2024. Corresponding inflation rate for rural and urban is 4.10% and 2.98% ,respectively.

Food inflation for July 2024 is the lowest since June 2023. Year-on-year inflation rate based on All India Consumer Food Price Index (CFPI) number is 5.42%(Provisional) for the month of July, 2024. Corresponding inflation rate for rural and urban is 5.89% and 4.63%, respectively.

During the month of July 2024 there is a decline in inflation for all the groups. There has been significant decline is in the vegetables, fruits and spices subgroup.

Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.