New Delhi: Retail inflation in the country surged to a 3-month high in June. Data released by the Ministry of Statistics and Programme Implementation revealed this. As per the data, the retail inflation, based on Consumer Price Index (CPI)climbed to 4.81% in June this year.
The Consumer Food Price Index (CFPI) in June surged to 4.49%. It was at 2.91% in May. The rise in vegetable prices is the main reason for this. The food basket accounts for nearly half of the CPI. Rural inflation stood at 4.72% in June while urban inflation was at 4.96% for the reported period.
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CPI for June remained within the RBI’s tolerance band of 2-6% for the fourth consecutive month.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
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