India’s retail inflation rate in June at five-month high of 5%

India’s retail inflation rate accelerated to a five-month high of 5% in June, government data showed on Thursday, driven by higher fuel prices and a depreciating rupee.

Analysts polled by Reuters had forecast June’s annual increase in the consumer price index at 5.30%, compared with May’s 4.87%. The forecasts for June ranged from 4.60% to 6%.

June was the eighth straight month in which inflation was higher than the central bank’s medium-term target of 4%.

The Reserve Bank of India (RBI) last month raised its benchmark interest rate for the first time since 2014, by 25 basis points to 6.25%, citing rising inflation.

Inflation rate Consumer Price Index Fuel price Reserve Bank of India Basis point Interest rate

Stay updated with the latest Business News on Petrol Price, Gold Rate, Income Tax Calculator along with Silver Rates, Diesel Prices and Stock Market Live Updates on Hindustan Times.

Stay updated with the latest Business News on Petrol Price, Gold Rate, Income Tax Calculator along with Silver Rates, Diesel Prices and Stock Market Live Updates on Hindustan Times.

News / Business / India’s retail inflation rate in June at five-month high of 5%

See Less