India's Retail Inflation and Unemployment Rate - CMIE Data - August 2022

 India's Retail Inflation and Unemployment Rate - CMIE Data - August 2022

In the month of this year, the country's CPI(Consumer Price Index) - Retail inflation is said to be 7 Percent. While the Retail inflation rate has been decreasing continuously from Last April 2022 which was 7.79 Percent. However, the inflation rate in August has again increased as compared to July 2022. 

The said above inflation was slightly higher than the Market expectations. The Food inflation rate rose to 7.62 Percent in the month of August from 6.75 Percent in July 2022. Meat and Fish products were increased by 206 Percent, Oil & Fat by 192 Percent and Spices by 194 Percent.

The rise in prices of Vegetables and Fruits also contributed to the rise in inflation in the month of August. However, Fuel prices have moderated slightly. The inflation rate of Fuel and Light has declined to 10.78 Percent in August from 11.8 Percent in July.

Based on CPI - Retail Inflation in India, Food alone contributes around 46 Percent to the Country's Retail inflation. Housing contributes 10 Percent, Transport and Telecommunication by 8.60 Percent and Healthcare by 6 Percent.

Generally, India's Retail Inflation rate is in Volatile due to Dependence of Imports, Uncertainty on Monsoons, Infrastructure, Logistics Supply and Fiscal Deficit. In the month of August, India's unemployment rate reached a one-year High of 8.28 Percent.

The unemployment rate seems high in the Urban area as compared to the Rural in the month of August 2022. It is noteworthy that the unemployment rate in September 2021 was 6.86 Percent. It is said to be 8.64 Percent in the Urban area and 6.04 Percent in Rural areas for the above said month. 

The unemployment rate, which has gradually declined and stood at 6.83 Percent in the month of  July 2022. However, it is noticeable that there has been an increase in the month of August - 8.28 Percent. It is said to be 9.57 Percent in the Urban and 7.68 Percent in the Rural areas in the month of August 2022.

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