India’s retail inflation spiked to 7.4% in July, primarily driven by soaring vegetable prices. The Consumer Price Index (CPI) surged from 6.1% in June, fueled by a 15.8% increase in vegetable prices. The inflation rate has exceeded the Reserve Bank of India’s (RBI) target range of 2-6% for the sixth consecutive month. Elevated food and fuel prices have contributed to the persistent inflationary pressure. The RBI’s Monetary Policy Committee, responsible for controlling inflation, is expected to closely monitor the situation and consider appropriate policy measures to stabilize the economy amid these inflation concerns.