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June retail inflation rises at 5.4%
June retail inflation rises at 5.4%. Retail inflation surged to eight month high of 5.4 per cent in June mainly due to costlier food items thus limiting the room for RBI to cut rates next month. The retail inflation measured on Consumer Price Index (CPI) was at 5.01 per cent in May. It was at 6.77 per cent in June last year.
New Delhi: Retail inflation surged to eight month high of 5.4 per cent in June mainly due to costlier food items thus limiting the room for RBI to cut rates next month. The retail inflation measured on Consumer Price Index (CPI) was at 5.01 per cent in May. It was at 6.77 per cent in June last year.
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The rise in inflation, a key factor considered by the RBI in deciding the bi-monthly monetary policy, comes in the backdrop of slowdown in factory output. The Index of Industrial Index (IIP) in May slowed to 2.7 per cent from 5.6 per cent year ago leading to demands of rate cut from the RBI in its next policy review on August 4.
As per the data released by the Statistics Office (CSO) on Monday, prices of pulses rose by 22.24 per cent in June year-on-year. The overall food inflation increased to 5.48 per cent in June from 4.8 per cent in the previous month. The retail food inflation was however 7.21 per cent in June 2014.
The inflation for fruit and vegetables was 3.51 per cent and 5.37 per cent, respectively, in the month under review. Among others, milk and its products were costlier by 7.18 per cent in June over the same month last year. CSO data also showed that prices of protein-rich items like meat and fish rose by 6.99 per cent, while spices turned costlier by 9.71 per cent in the month.
