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Retail inflation rises to 15-month high of 7.44%

The increase in retail inflation has come in the wake of a sharp rise in vegetable prices over the past few months, alongside an equally sharp rise in the prices of cereals like rice and wheat.

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Retail inflation rises to 15-month high of 7.44%, as per government data

India’s retail inflation increased sharply to a nine-month high of 7.44 per cent in July, according to government’s official data. This marks a significant increase over the 4.87 per cent recorded in the past month.

As per reports, the consumer price index-based inflation was widely anticipated by economists to be above the Reserve Bank of India’s upper tolerance limit of 6 per cent. Nonetheless, the actual figure is higher than what most experts had earlier estimated. With this, the retail inflation breached the Reserve Bank of India’s 2-6 per cent threshold following four months.

The increase in retail inflation has come in the wake of a sharp rise in vegetable prices over the past few months, alongside an equally sharp rise in the prices of cereals like rice and wheat.

Notably, the food prices that comprise nearly half of the inflation basket, have surged sharply over the past two months owing to the adverse weather conditions across the country. This phenomenon pushed the prices of some important kitchen staples such as tomatoes, leading to a drastic increase in retail inflation.

On the other hand, in July, rural inflation soared to 7.63 per cent, up from 4.78 per cent in the previous year. Subsequently, urban inflation also increased to 7.20 per cent from 4.96 per cent in the previous month.

According to the experts, the sharp rise in retail inflation could make the Reserve Bank of India’s task much more difficult, just days after the central bank’s Monetary Policy Committee held rates steady. Furthermore, the central bank also estimated retail inflation to remain high in August, stating that prices pressure will continue this month as well.

Earlier, high inflation was recorded at 7.79 per cent in April 2022. The inflation food basket was 11.51 per cent July as compared to 4.55 per cent in June and 6.69 per cent in July 2022, according to official data. 

In addition, the retail inflation in vegetable year-on-year was 37.43 per cent while the rate of price rise in cereals and products was around 13 per cent, as per the data released by the National Statistical Office (NSO).

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Akhilesh Yadav slams BJP after young unemployed man hangs himself over paper leak in UP’s Kannauj

Yadav said the BJP, who had deployed every trick to come into power, turned away in the name of providing jobs.

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Former Uttar Pradesh Chief Minister Akhilesh Yadav slammed the BJP government after a 28-year-old unemployed man hanged himself over the paper leak in Kannauj. He said it’s a dream to find a job under its regime.

Samajwadi Party chief, taking to X, further attacked the BJP for their negligence in terms of providing jobs to youths. Yadav said the BJP, who had deployed every trick to come into power, turned away in the name of providing jobs.

He further expressed his sadness over the news and said it upset with the tragedy of joblessness, a young man from Kannaj, identified as Brajesh Pal, committed suicide by hanging himself.  

Before doing this he burned all his degrees. Giving up life is not a solution. Only struggle finds the way to a solution. Expecting a job in the BJP government is a dream, Yadav added.

According to police, the 28-year-old unemployed man burned all his education certificates and committed suicide by hanging himself in his house in the Bhoodpurwa area here.

Police further stated that student Pal had recently appeared for a police recruitment exam and was upset over the paper leak. On February 22, he killed himself.

In a suicide note, he blamed joblessness behind his major move to kill himself. He further wrote, now I am upset. What is the use of degrees when one cannot get a job, he wrote.

In his note, Pal wrote that he had betrayed his family, and asked them to marry off his sister in a very good manner. His father works in a private job in Delhi. He was the only son of his parents. Pal’s body has been sent for post-mortem, Sadar Police Station SHO Vishnu Kant Tiwari said.

The UP Police constable exam held on February 17 and 18 faced both exam paper leaks and cases of impersonation. Since then, there has been a growing demand for a redo of the exams. Many districts’ candidates demanded exam cancellation after discovering a leaked paper on WhatsApp before entering the exam hall, as reported.

Meanwhile, Lucknow witnessed a massive protest over paper leaks in two recruitment exams held in UP.  

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PM Modi slams Rahul Gandhi over junkies in Varanasi remark, says people who aren’t in their senses seeing junkies everywhere

The Prime Minister added in the last elections the people of Varanasi have made him Banarasi. He hailed Sant Gadge Maharaj and credited him for freeing the society from stereotypes and working for the welfare of the Dalits and deprived.During his visit the Prime Minister also paid tribute to saint and social reformer Gadge Maharaj on his birth anniversary.

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Prime Minister Narendra Modi visited his Lok Sabha constituency, Varanasi on Friday. At the gathering PM Modi took a veiled attack on Congress leader Rahul Gandhi for his nasheri yuva in Varanasi remark, and said those who are not in their senses are seeing junkies everywhere.

Earlier Congress leader Rahul Gandhi had said in Varanasi he had observed some youth in an intoxicated state were lying on the street and dancing at night. He had commented that the future of Uttar Pradesh is intoxicated. The Prime Minister in response reiterated his parivaarvaad dig at the Congress and accused the grand old party of corruption and appeasement.

The Prime Minister threw light on his government’s contribution for farmers and the poor. He said animal husbandry is a medium to make women self reliant and a support for small and landless farmers. He remained vocal for local to advertise small artisans.

During his visit the Prime Minister also paid tribute to saint and social reformer Gadge Maharaj on his birth anniversary. The Varanasi Lok Sabha constituency is one of the 80 Lok Sabha (parliamentary) constituencies in Uttar Pradesh. The Prime Minister has won the Lok Sabha seat from this constituency in the last two general elections.

The Prime Minister added in the last elections the people of Varanasi have made him Banarasi. He hailed Sant Gadge Maharaj and credited him for freeing the society from stereotypes and working for the welfare of the Dalits and deprived.

The Prime Minister said Babasaheb BR Ambedkar was a great admirer of Gadge Baba. He added That Gadge Baba was also greatly influenced by Baba Ambedkar as well. Gadge Maharaj was a social reformer from Maharashtra. His real name was Debuji Zhingraji Janorkar. He was born in Shendgaon village in Anjangaon Suriji Taluka in Amravati district, Maharashtra.

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Kamal Nath ends switch speculations as he calls Rahul Gandhi our leader, urges Congress workers to join his Yatra

He insisted on togetherness, which will bring this great campaign against injustice to an end.

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Former Madhya Pradesh Chief Minister Kamal Nath on Friday ended the speculations of his switching allegiance to BJP as he called Rahul Gandhi “our leader” and urged Congress workers to join the Bharat Jodo Nyay Yatra in the State.

Taking to X, Nath said that the Congress workers were excited to welcome the Gandhi-led Bharat Jodo Nyay Yatra. He said our leader Rahul Gandhi has taken to the streets across the country and announced a decisive fight against injustice, oppression and exploitation.

He also urged the people of Madhya Pradesh and the State Congress workers to become the strength and courage of Gandhi by joining the Bharat Jodo Nyay Yatra in large numbers. He insisted on togetherness, which will bring this great campaign against injustice to an end.

Earlier, Nath increased more suspense to the rumours as he neither denied nor accepted what has been the hot rumour doing the buzz in the capital.

Speaking to reporters, Nath asked the media to lower their excitement over speculation of him and his son Nakul Kamal Nath joining the BJP and said he is not denying it and will inform them of the news if there is something in the coming days.

Also, he and his son Nakul Kamal Nath arrived in Delhi today reportedly to meet the top leaders of the BJP. However, Congress rejected the rumours of him joining the BJP and recalled what former PM Indira Gandhi said about Nath.

Earlier in Jharkhand, Gandhi said Congress stands for Jal, Jungle, and Jamin of the tribal people, for education and employment of youths. He said economic imbalance, demonetization, GST and unemployment have ruined the future of the youths in the country.  On the way to Bokaro, he interacted with coal miners and their children at Godhar Kali Basti in Dhanbad district. 

On January 14, Congress kicked off the Bharat Jodo Nyaya Yatra from Manipur’s Thoubal. The yatra aims to cover over 6,700 kilometres over 67 days, going through 110 districts.

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