Inflation remains above 6% for second month
The Hindu
Growth impulses remained fragile, manufacturing output tanked 9.5%
After touching a six-month high in May, India’s retail inflation was virtually unchanged in June at about 6.3%, remaining out of the central bank’s comfort zone for a second month in a row. Economists expect the Reserve Bank of India (RBI) to revisit its inflation estimate of 5.1% for 2021-22 and stressed that lack of fiscal policy action to cool prices could precipitate a faster unwinding of RBI’s growth-supporting approach to interest rates. Growth impulses remained fragile with the second COVID-19 wave hurting the recovery momentum, according quick estimates of industrial output for May, with output levels 8% lower than April.
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