: June retail inflation eases to 6.26% #IndiaNEWS Retail inflation for the month of June eased slightly to 6.26%, from 6.30% in May, government data showed on Monday. The data, which is an indicator

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June retail inflation eases to 6.26% #IndiaNEWS
Retail inflation for the month of June eased slightly to 6.26%, from 6.30% in May, government data showed on Monday. The data, which is an indicator of price rise, however continues to remain above the Reserve Bank of India’s comfort zone of 2% to 6%.In fact, inflation in food prices came at 5.15%, marginally higher than 5.01% in May. Prices of cereals and vegetables dropped by 1.94% and 0.70% respectively, in the month of June, as compared to the same month last year. However, cost of oils and fats rose by 34.78%, while that of fruits and pulses increased by 11.82% and 10.01%.The rise in prices of petrol and diesel also reflected in the data as inflation in the fuel and light category shot up by 12.68%, as compared to June 2020. In May, the fuel and light inflation was 11.58%.The surge in inflation will add pressure on the central bank to keep prices under control. Last month, the RBI had projected retail inflation at 5.1% for the current fiscal while slashing the growth forecast to 9.5% from 10.5%. Industrial production rises on low-base effectMeanwhile, the country’s factory output for the month of May rose 29.3% from a year earlier, another set of data released by the ministry of statistics...Read more

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