The effect of inflation-reducing measures will be seen in the coming months by the finance ministry

New Delhi, Sep 12 (PTI) The rise in inflation is due to rise in prices of food articles and fuel apart from adverse comparative basis, the Finance Ministry said on Monday. Along with this, he expressed confidence that the steps taken to bring inflation under control will see its impact in the coming months.

According to official data, retail inflation rose to 7 per cent in August as against 6.71 per cent in July.

The ministry said headline inflation stood at 5.9 per cent in August, which is below the Reserve Bank’s maximum satisfactory level of six per cent for the fourth consecutive month. Prices of food and energy products are not included in core inflation.

In a tweet, the Finance Ministry said, “Retail Inflation (Gross Inflation) based on Consumer Price Index rose marginally to 7 per cent in August from 6.71 per cent in July 2022. This is because of adverse comparative effect and rise in food and fuel prices.

However, the ministry has expressed hope that the restrictions imposed by the government on the export of flour, rice, maida etc., are likely to bring down the prices of these commodities.

According to the ministry, “The government has imposed restrictions on the export of wheat flour, rice flour, etc. to maintain domestic supply and to check the rise in prices. These measures are expected to have a significant positive impact in the coming months.