CPI Inflation In June Rises 4.81% On Costlier Food, Remains Within RBI’s Limit; IIP Grows 5.2% – News18
The government has released the CPI inflation data for June 2023. (Representative image)
CPI Inflation June 2023: India’s retail inflation in the food basket jumps to 4.63 per cent in June 2023, compared with 2.91 per cent in May
India’s retail inflation in June 2023 increased to 4.81 per cent after declining for five months, according to the latest official data released on Wednesday. The increase in the inflation rate has been recorded due to fading favourable base and higher vegetable prices in the country. Meanwhile, India’s industrial production, based on the IIP, rose 5.2 per cent In May 2023.
At 4.81 per cent, the retail inflation in June 2023 remains within the Reserve Bank of India’s (RBI) tolerance band of 2-6 per cent for the fourth month in a row.
According to the latest data from the National Statistical Office, the retail inflation in the food basket jumped to 4.63 per cent in June 2023, compared with 2.91 per cent in May.
The CPI inflation in May had fallen to a 25-month low of 4.5 per cent, compared with 4.7 per cent in April, 5.66 per cent in March, 6.44 per cent in February, 6.52 per cent in January. In December 2022, the CPI inflation had stood at 5.7 per cent.
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