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LATEST NEWS UPDATES | Retail inflation eases to 7.01% in June, but remains above RBI's target band -Meghna Sen

Retail inflation eases to 7.01% in June, but remains above RBI's target band -Meghna Sen

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published Published on Jul 12, 2022   modified Modified on Jul 12, 2022

-Livemint.com

For the sixth month in a row, the retail price inflation stayed well above the RBI's upper tolerance limit of 6%

India's retail inflation eased slightly to 7.01% in June against 7.04% in the previous month, government data showed today. However, in June 2021, the retail inflation stood at 6.26%. The consumer price-based inflation (CPI) has breached the upper limit of RBI's tolerance band, ranging from 2-6%, for the sixth consecutive month and has remained above 7% for third consecutive month. 

Soaring global commodity prices have kept retail inflation above the RBI's 6% upper tolerance range so far this year. A weakening rupee has exacerbated the issue further. The currency is already down over 6% for the year due to higher oil prices - India's biggest import. The rupee today hit a new low of 79.66 against the US dollar. 

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Kindly click here to access the Consumer Price Index data related to June 2022. 


Livemint.com, 12 July, 2022, https://www.livemint.com/news/india/retail-inflation-eases-to-7-01-in-june-but-remains-above-rbi-s-target-band-11657614847168.html


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