Retail inflation rises by 6.09% in June
Business | July 13, 2020 18:32 ISTRetail inflation rose by 6.09 percent in June, mainly on account of higher prices of food items, the government data showed on Monday.
Retail inflation rose by 6.09 percent in June, mainly on account of higher prices of food items, the government data showed on Monday.
Retail inflation slowed to 6.58 per cent in February over the previous month mainly due to easing food prices, government data showed on Thursday. The retail inflation based on Consumer Price Index (CPI) was 7.59 per cent in January and 2.57 per cent in February 2019.
A day after Finance Minister Nirmala Sitharaman said economic growth was rebounding, government data on Wednesday showed that industrial output contracted by 0.3 per cent in December while retail inflation jumped to a 68-month high of 7.59 per cent in January on high food prices.
Retail inflation jumped to over five-and-a-half-year high of 7.59 per cent in January on persistently high prices of vegetables, pulses and protein-rich meat and fish, government data showed on Wednesday.
Retail inflation, which accelerated to 7.35 per cent in December and could breach 8 per cent in January, may force the Reserve Bank of India to hold rates in the monetary policy review next month, according to a report.
The retail inflation is on a 5-year high level of 7.4% as of December 2019 majorly driven by the inflation in the food price index, which also stood at 14.12%. A look at key statistics and what holds in future in terms of RBI's rate cut and probable inflation levels in the coming months.
Retail inflation rose sharply to 7.35 percent in December 2019 from 5.54 percent in November, government data said on Monday.
Wholesale prices based inflation rose to 0.58 per cent in November, as against 0.16 per cent in October due to increase in prices of food articles. The annual inflation, based on the monthly wholesale price index (WPI), was at 4.47 per cent during the same month a year ago (November 2018).
According to the data released by the National Statistical Office (NSO), costlier vegetables, pulses and protein rich items pushed the consumer price index (CPI) based retail inflation to a 40-month high in November.
The previous high of CPI was 6.07 in July 2016. The Reserve Bank of India has been mandated by the government to contain inflation in the range of 4 per cent, with a margin of 2 per cent on either side.
The inflation based on Consumer Price Index (CPI) was 3.99 per cent in September and 3.38 per cent in October 2018. The inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month
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