Retail inflation reduced to 7.01% in June from 7.04% in May: Govt

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  • Inflation in the food basket was 7.75% in June 2022, up from 7.97% in the previous month
  • RBI has been asked to ensure that inflation remains at 4% with a margin of 2%
  • Retail inflation ruling above RBI’s upper tolerance limit of 6% since January 2022

Inflation Update: Retail inflation eased marginally to 7.01 per cent in June, mainly on account of a marginal moderation in food prices, though it remained above the Reserve Bank’s comfort level.

The Consumer Price Index (CPI) based inflation stood at 7.04 per cent in May and 6.26 per cent in June 2021.

According to the National Statistical Office (NSO) data, inflation in the food basket in June 2022 stood at 7.75 per cent as compared to 7.97 per cent in the previous month.

RBI has been asked to ensure that inflation remains at 4 per cent with a margin of 2 per cent on either side.

Retail inflation has been ruling above the RBI’s upper tolerance limit of 6 per cent since January 2022.

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