Food inflation jumped to 9.55% in June, an increase from 8.69% in May and 4.55% in June 2023.
New Delhi : Retail inflation surged to 5.08% in June, reaching a 4-month high, up from 4.80% in May, according to government data released on Friday, July 12, 2024.
"The year-on-year inflation rate based on the All India Consumer Price Index (CPI) is provisionally at 5.08% for June 2024, with rural inflation at 5.66% and urban inflation at 4.39%," stated a release from the Ministry of Statistics & Programme Implementation.
Food inflation jumped to 9.55% in June, an increase from 8.69% in May and 4.55% in June 2023. Rural inflation rose to 5.67% in June from 5.34% in May and 4.78% in June 2023. Conversely, urban inflation slightly decreased to 4.39% in June from 4.21% in May and 4.96% in June 2023.
India's Index of Industrial Production (IIP) saw a 5.9% increase in May compared to 5% in April, as per the Ministry of Statistics and Programme Implementation (MoSPI).
A part of economists said, the CPI inflation came marginally higher than our expectations. While food inflation risks will continue to dominate in the near term, we expect improved sowing patterns and better spatial distribution of rains to eventually ease price pressures beyond these volatile months. However, the Central Bank will likely maintain its current monetary policy stance due to robust growth amidst near-term inflation risks.
New Delhi : Retail inflation surged to 5.08% in June, reaching a 4-month high, up from 4.80% in May, according to government data released on Friday, July 12, 2024.
"The year-on-year inflation rate based on the All India Consumer Price Index (CPI) is provisionally at 5.08% for June 2024, with rural inflation at 5.66% and urban inflation at 4.39%," stated a release from the Ministry of Statistics & Programme Implementation.
Food inflation jumped to 9.55% in June, an increase from 8.69% in May and 4.55% in June 2023. Rural inflation rose to 5.67% in June from 5.34% in May and 4.78% in June 2023. Conversely, urban inflation slightly decreased to 4.39% in June from 4.21% in May and 4.96% in June 2023.
India's Index of Industrial Production (IIP) saw a 5.9% increase in May compared to 5% in April, as per the Ministry of Statistics and Programme Implementation (MoSPI).
A part of economists said, the CPI inflation came marginally higher than our expectations. While food inflation risks will continue to dominate in the near term, we expect improved sowing patterns and better spatial distribution of rains to eventually ease price pressures beyond these volatile months. However, the Central Bank will likely maintain its current monetary policy stance due to robust growth amidst near-term inflation risks.
Post a Comment