Retail inflation of India surged in June

Retail inflation of India surged in June

The ministry of statistics released its data on India’s retail inflation of June month. India’s retail inflation soared to 4.81% in June 2023 after hitting a 25-month low of 4.25 per cent in May on an annual basis.

The CPI inflation has remained within the tolerance band of the Reserve Bank of India of 2-6%for the fourth consecutive month.

The consumer food price index (CFPI) got up to 4. 49% in June from 2.91% in May. Rural inflation registered at 4.72 per cent while urban inflation recorded at 4.96 per cent.

Reason behind surging retail inflation:

• The inflation increased to 1.01 per cent in June from 0.51 per cent in the preceding month due to contraction in vegetables at 0.93 per cent against a degrowth of 8.1 per cent in May.
• The inflation levels for food & beverage and fuel booked at 4.63% and 3.92 per cent, respectively.
• For cereals, the inflation rate increased marginally to 12.71 per cent from 12.65 per in May.
• A little supportive base and sudden spike in vegetable price hiked the CPI inflation to 4.8 per cent in June 2023.
• ICRA, a forecasting firm, had predicted the June 2023 CPI inflation at 4.7 per cent.

Fire in prices of tomatoes:

• There is an unexpected surge in the prices of vegetables such as tomatoes in last some time.
• Some expert economists intimated that the consumer price inflation might be accelerated to 4.6 per cent in June.

Question & Answer:

Q1. How much percent retail inflation of India has been recorded for the month of June 2023?

Ans. 4.81%

Q2. Urban inflation has been registered how much percent in June?

Ans. 4.96%

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