2 years, 5 months ago
At above 7%, retail inflation stays stubborn
The HinduIndia’s retail inflation inched lower to 7.01% in June, from May’s 7.04%, but stayed stuck above the 7% mark for the third straight month. Rural inflation edged up to 7.09%, from 7.08% in May, while urban consumers faced a 6.92% price rise, as per the Consumer Price Index released on Tuesday. “Retail inflation has now averaged 7.3% in the first quarter of 2022-23, slightly lower than the RBI’s forecast of 7.5%,” observed D.K. ICRA’s chief economist Aditi Nayar said the services sub-indices reflected a pick-up in inflation that needed to be watched very carefully, adding that she, however, expects overall inflation would likely slip back below 7% in the coming months.
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History of this topic
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