Inflation doubled in May
Bad news came out for people concerned about inflation on Friday. In fact, the inflation rate has increased due to the rise in food prices last month. In the month of June, the retail inflation rate again exceeded 5 percent. The retail inflation rate in June 2024 was 5.08 percent, compared to 4.80 percent in May 2024. There has been an increase in the food inflation rate and it has exceeded 9 percent. The food inflation rate was 9.36 percent in June, compared to 8.83 percent in May.
rising inflation rate
The National Bureau of Statistics has declared the retail inflation rate figures for the month of June. According to the data, due to the increase in food prices, the retail inflation rate has been 5.08 percent, up from 4.75 percent in May, and has now been revised to 4.80 percent. A year ago, in June 2023, the retail inflation rate was 4.87 percent. The food inflation rate was 9.36 percent in the month of June, up from 8.83 percent in May. The food inflation rate in June 2023 was 4.31 percent.
RBI to monitor retail inflation rate
The government has entrusted the responsibility of controlling the retail inflation rate to the Central Bank. The government has entrusted the Reserve Bank of India (RBI) with the task of ensuring that the CPI inflation remains at 4 per cent with a margin of 2 per cent on either side.
The RBI has estimated CPI inflation at 4.5 per cent for 2024-25. The central bank has estimated CPI at 4.9 per cent in the first quarter, 3.8 per cent in the second quarter, 4.6 per cent in the third quarter and 4.5 per cent in the fourth quarter.
