Retail inflation again crosses 5%

Retail Inflation Data: Due to the increase in the prices of food items, the retail inflation rate has once again crossed 5 percent. The retail inflation rate in June 2024 was 5.08 percent, which was 4.80 percent in May 2024. The inflation rate of food items has increased and it has crossed 9 percent. The food inflation rate was 9.36 percent in June, which was 8.83 percent in May.

Inflation rate hike

The Ministry of Statistics has announced the retail inflation rate data for the month of June. According to the data, due to the increase in the prices of food items, the retail inflation rate has come down to 5.08 percent, which was 4.75 percent in May, which has now been revised to 4.80 percent.

A year ago, in June 2023, the retail inflation rate was 4.87 percent. Food inflation was 9.36 percent in June, which was 8.83 percent in May. Food inflation was 4.31 percent in June 2023.

The prices of vegetables and pulses have increased

Due to heavy rains in many areas of the country, the prices of vegetables have increased, due to which vegetables have become expensive. The inflation rate of vegetables in June was 29.32 percent, which was 27.33 percent in May. The inflation rate of pulses in June was 16.07 percent, which was 17.14 percent in May. There has been a slight decline in the inflation of pulses in June.

The inflation rate of fruits was 7.1 percent in June, which was 6.68 percent in May. The inflation rate of food grains and related products was 8.75 percent, which was 8.69 percent in May. The inflation rate of sugar was 5.83 percent, which was 5.70 percent in May. The inflation rate of eggs has come down to 3.99 percent, which was 7.62 percent in May.

Hopes of cheap loans dashed

The increase in retail inflation is a big setback for RBI. RBI was trying to reduce it to 4 percent but taking a U-turn, the retail inflation rate has again gone above 5 percent. In such a situation, the possibility of RBI cutting the policy rate also remains intact. On Thursday itself, RBI Governor Shaktikanta Das had said that inflation still remains a challenge and is higher than the target.