Retail inflation above 6%, IIP up 29% on low base effect – Times of India
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NEW DELHI: Retail inflation held above 6% level in June as price pressures across food, fuel and some services remained firm, while industrial output growth soared on the back of a low base effect in May.
Data released by the National Statistical Office (NSO) on Monday showed retail inflation as measured by the consumer price index rose an annual 6.3% in June, nearly similar to the previous month’s levels. The food index rose to 5.2% during the month, up from the previous month’s 5%. Urban inflation was at 6.4%, while rural was at 6.2%.
Data released by the National Statistical Office (NSO) on Monday showed retail inflation as measured by the consumer price index rose an annual 6.3% in June, nearly similar to the previous month’s levels. The food index rose to 5.2% during the month, up from the previous month’s 5%. Urban inflation was at 6.4%, while rural was at 6.2%.
Food and beverages inflation was at a seven-month high of 5.6%. Economists attributed the stubborn food prices to supply disruption, higher transport costs and rising demand. Experts expect the RBI to continue with its policy to support growth and the recovery process that is underway for now.
Separate data released by the NSO showed industrial output growth grew an annual 29.3% in May compared with a 134.6% in April due to a low base last year.
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