India's Retail Inflation Rate Rises to 6.09% in June Due to Increase in Prices of Food Items

New Delhi, July 13: India’s annual retail inflation rose to 6.09 percent in June as compared to 5.84 percent in March. The retail inflation is calculated on the basis on Consumer Price Index (CPI). The inflation rate increased due to a rise in prices of some food items, the government data showed on Monday. In June, the retail inflation has gone beyond the upper margin set by the Reserve Bank of India (RBI). According to reports, the RBI had set the upper margin to six percent.  Wholesale Inflation Down to 2.26% in February 2020 as Compared to 3.1% in January 2020.

In April, the Centre had revised the CPI data for the month of March to 5.84 percent from 5.91 percent. The government had not released inflation headline numbers for April and May due to inadequate data collection following two-month long coronavirus lockdown. Retail Inflation Soars to 7.35% in December, Vegetable Inflation Peaks at 60.5% Fuelling Fears of Stagflation.

The CPI or the inflation in the food basket has been eased to 7.87 percent in the month of June after the government allowed relaxations in the nationwide lockdown . The CPI for May was revised to 9.20 percent.

In a Reuters poll of analysts, June inflation was higher than the 5.30 percent forecast . The price data for the calculation of CPI is collected from selected 1,114 urban markets and 1,181 villages. Field staff of NSO, Ministry of Statistics & Programme Implementation (MoSPI ) personally visit these areas on a weekly roster.

(The above story first appeared on LatestLY on Jul 13, 2020 06:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).