India's Retail Inflation Exceeds RBI Target in June
India's retail inflation accelerated to 4.38% in June, surpassing the Reserve Bank of India's 4% target for the first time in 17 months. This increase, driven by a 5.32% rise in food inflation, has heightened expectations for a potential interest rate hike.
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India's retail inflation accelerates to 4.38%, raising rate hike expectations
Read full article →Retail inflation jumps to 4.38% in June; breaches RBI's 4% target
India's retail inflation increased to 4.38 percent in June from May's 3.93 percent. Higher food prices significantly pushed up the overall Consumer Price Index for the month. Ginger and tomatoes saw substantial year-on-year price increases, contributing to the overall rise. However, some items like potatoes and peas became cheaper compared to last year. Rural areas experienced higher inflation rates than urban centers during this period.
By TOI BUSINESS DESK
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