India’s consumer price inflation shoots up to 5.08% in June
14 Jul 2024
Consumer price inflation in India, based on the Consumer Price Index (CPI), shot up to 5.08 per cent in June 2024 from 4.75 per cent in May, provisional figures released by the National Statistics Office (NSO) showed.
The annual rate of inflation based on the Consumer Price Index (Base 2012=100), which reached a peak of 7.44 per cent in July last year, has been ruling below 5.00 per cent for the last several months. The sudden spurt in the index is attributed to high vegetable prices.
The all-India consumer price inflation stood at 4.87 per cent in June 2023.
Inflation rate based on the food price index stood at 9.36 per cent in June 2024 against 8.69 per cent in May and 4.55 per cent in June 2023.
ith the Reserve Bank of India continuing to hold its policy repo rate at 6.5 per cent with its focus on taming inflation, consumer prices have remained subdued to some extent for the past few months
Consumer price inflation for rural areas stood at 5.66 per cent in June 2024 against 5.28 per cent in May and 4.78 per cent in June 2023.
Inflation rate for urban consumers stood at 4.39 per cent in June 2024 against 4.15 per cent in May and 4.96 per cent in June 2023.
Food price inflation for rural areas stood at 9.15 per cent in June 2024 against 8.62 per cent in May and 4.67 per cent in June 2023.
Food price inflation for urban areas stood at 9.55 per cent in June 2024 against 8.83 per cent in May and 4.31 per cent in June 2023.
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