India's retail inflation eases to 7.01% but remains above RBI's tolerance level
India Today
Retail inflation tracked by the Consumer Price Index (CPI) in June was recorded at 7.01 per cent.
The retail inflation in June was recorded at 7.01 per cent, according to government data released on Tuesday. In May, consumer prices were estimated at 7.04 per cent. The inflation rose near an eight-year high of 7.79 per cent recorded in April.
However, the annual retail inflation rose to 7.01 per cent in June this year from 6.26 per cent a year earlier.
The retail inflation also remained above the Reserve Bank of India's (RBI) tolerance band of 2 per cent to 6 per cent for the sixth month in a row, the government data released on Tuesday showed.
The RBI has been asked to ensure that inflation remains at 4 per cent with a margin of 2 per cent on either side.
The retail inflation has been remaining above the RBI's upper tolerance limit of 6 per cent since January this year.
Inflation in the food basket in June 2022 was 7.75 per cent, compared to 7.97 per cent in the preceding month, as per the National Statistical Office (NSO) data.
Retail inflation tracked by the Consumer Price Index (CPI) measures changes in prices from a retail buyer's perspective.
