India’s retail inflation increased to 5.1% (5.08%) in June 2024 from 4.75% in the previous month.
This was mainly due to rising food prices. Food inflation nearly doubled YoY. Food inflation increased to 9.55% in June 2024.
In June, the Consumer Price Index (CPI)-based inflation rate was 5.08% year over year, according to official statistics that was released on July 12.
The data indicates that the rates of inflation in rural and urban areas were 5.66% and 4.39%, respectively.
The increase in food costs is still a major concern.
Monthly increases were observed in a number of food categories, including cereals, meat, fish, eggs, dairy products, oils, fats, fruits, vegetables, pulses, sugar, spices, and prepared snacks, according to government data.
This rise in June 2024 comes after a period of easing inflation. In May 2024, a 12-month low inflation of 4.75% was recorded.
The data was gathered from 1,181 villages and 1,114 urban markets in all states and union territories.
It offers a complete picture of price trends throughout India.
The next CPI data release is scheduled for August 12, 2024. This data release will be for the month of July 2024.
