16-July-2024
Economy News
 
June CPI inflation at 5.08%: Inflation may ease on monsoon pick up, but dashes hopes of any rate cut by RBI before Dec, say economists
15-Jul-2024

While India’s retail inflation rose to a four-month high of 5.08 per cent in June on higher food costs, economists expect it to ease in the coming months as rainfall has regained momentum. Shreya Sodhani, Regional Economist, Barclays, said, “Taking the data and early price indicators for June into account, we are tracking CPI inflation for July at 3.0 per cent YoY, driven lower in part by a high base. Food prices are likely to increase next month, though we expect the momentum in vegetables to ease.” Barclays also maintained FY25 average inflation estimate at 4.3 per cent. Earlier, data released by the National Statistical Office (NSO) showed that CPI inflation accelerated to 5.08 per cent on an annual basis in June. This, it added, is higher than the 12-month low of 4.75 per cent registered in the previous month.

News Source:- https://www.financialexpress.com/policy/economy-june-cpi-inflation-at-5-08-inflation-may-ease-on-monsoon-pick-up-but-dashes-hopes-of-any-rate-cut-by-rbi-before-dec-say-economists-3553227/