The data's release is closely monitored by economists, policymakers, and the public as it provides insights into changes in the cost of living and purchasing power for citizens.
The inflation has come back to the Reserve Bank's comfort level of below 6 per cent after a gap of two months. The previous low was in June this year when the reading stood at 4.87 per cent.
The growth in IIP was broad-based, with all the three major sectors – manufacturing, mining and electricity – registering positive growth.
Previously, high inflation was recorded at 7.79 per cent in April 2022.
Similarly, food inflation stood at 7.03 per cent and 6.70 per cent in June, compared to 6.31 per cent and 6.07 per cent in May and 5.09 per cent and 5.16 per cent in the year-ago period.
The Index of Industrial Production (IIP), which reflects the country's factory output, rose to 5.2 per cent in May from 4.5 per cent in April 2023, mainly due to good performance by the manufacturing and mining sectors.
Retail Inflation Rate: According to the data released by the National Statistical Office, the inflation in the food basket was at 4.49 per cent in June, higher than 2.96 per cent in May. The food basket accounts for nearly half of the CPI.
This is the fourth straight month when retail inflation has declined and the third month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 percent.
The retail inflation in the country has slipped to 4.7 per cent in April from 5.66 per cent in March, a government data informed on Friday.
The retail inflation has dropped to 5.66 per cent in March from 6.44 per cent in February.
The drop in inflation rate based on the Consumer Price Index (CPI) from 6.52 per cent in January to 6.07 per cent in February 2022 will provide marginal relief to consumers.
Inflation: The retail inflation rose to a 3-month high of 6.52 per cent in January, the government data showed on Monday.
Retail inflation in December 2022: The Consumer Price Index based retail inflation was at 5.88 per cent in November 2022 and 5.66 per cent in December 2021.
Retail inflation: This is the first time in 11 months that the retail inflation print has come within the RBI's tolerance band of 4 (+/- 2) per cent. The consumer price index (CPI) based retail inflation was 6.77 per cent in October 2022, and 4.91 per cent in November last year.
The Consumer Price Index (CPI) based retail inflation has remained above the 6 per cent target since January this year.
The 30-share Sensex plunged 530.36 points or 0.88 percent to 60,040.72 points while the Nifty declined 150.75 points or 0.83 percent to 17,919.30 points.
At the interbank foreign exchange, the domestic unit opened at 79.30 against the dollar, then touched 79.25 in initial deals, registering a gain of 28 paise over its previous close.
From the 30-share Sensex pack, Tech Mahindra, Infosys, Bajaj Finserv, Mahindra & Mahindra, Tata Steel, and ICICI Bank were leading the gainers' chart.
Retail inflation: In June, retail inflation was at 7.01 percent and it stood at 5.59 percent in July 2021.
The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling CPI-IW every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country.
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