Retail inflation surged to 5.08 per cent in June, says govt data

Jul 12, 2024 05:59 PM IST

Retail inflation climbed to 5.08 per cent in June due to higher prices of kitchen items, according to government data released on Friday. The Consumer Price Index (CPI) based retail inflation was 4.8 per cent in May 2024 and 4.87 per cent in June 2023.

Inflation in the food basket increased to 9.36 per cent in June from 8.69 per cent in May, as per the National Statistical Office (NSO).

The government has mandated the Reserve Bank of India (RBI) to keep CPI inflation at 4 per cent, with a margin of 2 per cent on either side. The RBI projected CPI inflation for 2024-25 at 4.5 per cent, with Q1 at 4.9 per cent, Q2 at 3.8 per cent, Q3 at 4.6 per cent, and Q4 at 4.5 per cent.