Retail inflation in India fell to a five-year low of 3.54% in July, dipping below the Reserve Bank's 4% target for the first time since September 2019, according to government data released on Monday.

A recent report by Crisil has shed light on the escalating intensity and recurrence of weather disturbances, contributing to volatile vegetable prices and rising retail inflation for over a year now.

In light of these developments, policymakers must remain vigilant and proactive in their approach to managing food inflation. While global trends and weather patterns offer promising signs, structural reforms in agriculture and trade policies are imperative for long-term sustainability.