June Retail Inflation: Reassuring news on inflation front, retail inflation eases in June | June Retail Inflation: Reassuring news on the forefront of inflation, retail inflation declined in June

June Retail Inflation: Reassuring news on inflation front, retail inflation eases in June | June Retail Inflation: Reassuring news on the forefront of inflation, retail inflation declined in June

Meanwhile, India’s industrial output (IIP) grew by 29.27 per cent year-on-year in May. This information is shared by the Ministry of Statistics and Program Implementation (MoSPI).

June Retail Inflation: Reassuring news on the forefront of inflation, retail inflation declined in June

New Delhi: June Retail Inflation: India’s retail inflation fell to 6.26 per cent in June. This is a bit of a relief compared to May. Retail inflation was 6.30 per cent in May. Meanwhile, India’s industrial output (IIP) grew by 29.27 per cent year-on-year in May. This information is shared by the Ministry of Statistics and Program Implementation (MoSPI). (June Retail Inflation: Reassuring news on the forefront of inflation, retail inflation declined in June)

Set a target of 4 per cent for retail inflation

The Reserve Bank of India has set a target of 4 per cent for retail inflation. It has declined and increased by 2 per cent. This is the second consecutive month that retail inflation has crossed the 6 per cent mark of the RBI. Prior to that, the retail inflation rate was below 6 per cent for five consecutive months. The Reserve Bank of India has set a target of 4% (+/- 2%) for retail inflation in March 20206.

This data is required to formulate RBI policy

Retail inflation data is very important for RBI policy making. With this in mind, he decides on monetary policy. The Reserve Bank’s MPC meeting was held last month, in which it was decided to keep the policy rate stable for the sixth time in a row. Currently, the repo rate is 4 percent and the reverse repo rate is 3.35 percent. RBI Governor Shaktikant Das has repeatedly said that we are constantly adopting new methods to reduce the impact of corona.

The inflation target for the current fiscal is 5.1 per cent

The Reserve Bank of India (RBI) has raised retail inflation to 5.1 per cent for the 2021-22 financial year. Inflation is expected to be 5.2 per cent in the June quarter, 5.4 per cent in the September quarter, 4.7 per cent in the December quarter and 5.3 per cent in the March quarter.

The rise in crude oil is a matter of concern

The RBI may raise its inflation target for the current financial year. The manner in which the price of crude oil is rising is a matter of concern. On the one hand, the price of crude oil is rising in the international market, while on the other hand, the government is raising taxes. Crude oil is currently crossing डॉलर 75 in the international market. Crude oil accounts for 90% of refinery products. Petrol and diesel prices also increase the cost of transportation. This has increased the price of food.

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June Retail Inflation: Reassuring news on the forefront of inflation, retail inflation declined in June

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