New Delhi: Retail Inflation Based on the Consumer Price Index (CPI) slightly down to 6.26 percent in June, data issued by the government showed on Monday.
Meanwhile, industrial production grew by 29.3 percent in May.
The inflation number reached 6.3 percent for May.
The inflation in the food basket was 5.15 percent in June compared to 5.01 percent in the previous month.
However, the inflation rate remained above the level of comfort of the Bank of India (RBI) reserves for the second month in a row.
RBI is mainly a factor in retail inflation while arriving at its bi-monthly monetary policy.
The RBI (MPC) monetary policy committee has been assigned by the government to tame retail inflation based on CPI at 4 percent (+, – 2 percent).
Meanwhile, a series of separate data issued by the National Statistics Office (NSO) showed that the manufacturing sector output jumped 34.5 percent in the period considered.
IIP has been contracted 33.4 percent in May 2020.
Mining output rose 23.3 percent and power plants increased 7.5 percent in May.
Industrial production has been beaten due to the Pandemic Coronavirus since March last year when it has been contracted 18.7 percent.
This shrank 57.3 percent in April 2020 due to a decrease in economic activity after locking to curb the spread of Coronavirus infection.
(With input from agency)
Retail inflation makes it easier for 6.26% in June
