New Delhi: Retail inflation increased marginally to 3.18 per cent in June over the previous month, mainly due to rise in food prices, according to official data.
The retail inflation based on the Consumer Price Indiex (CPI) stood at 3.05 per cent in May and 4.92 per cent in June 2018.
The retail inflation is on the rise since January this year.
As per the CPI data released by the Central Statistics Office (CSO), the food inflation was 2.17 per cent in June 2019, up from 1.83 per cent in the preceding month.
Inflation in protein rich food items, like egg, meat and fish, was higher in June compared to the previous month.
However, the rate of price rise in vegetables and fruits was slower.
The Reserve Bank of India mainly factors in the retail inflation while deciding the bi-monthlhy monetary policy.
Also read: RBI raises retail inflation forecast to 3-3.1% till September 2019
BJP is busy poaching, Congress saving the left overs, left is out from house, the voters have no clue who is going to speak for them. The price of Milk, dairy products have increased twice over last three months, veg prices have shot up. Even assuming that these are seasonal what action has govt has taken to rein is not clear. When Congress was in power BJP used to take it to street. Modi even wrote letter in Italian.
4% is the RBI’s sacred red line. Close to that now, with a possibly suboptimal monsoon, and some uncertainty over oil prices. The MPC should focus on its core mission, which is not providing a sugar high for growth.