New Delhi: Wholesale price-based inflation has eased marginally to 12.07 per cent in June, against a high of 12.94 per cent in May, PTI reported quoting the government data. Earlier in May, the wholesale price-based inflation touched a record high of 12.94 per cent due to rising prices of crude oil and manufactured goods.
- Meanwhile, retail inflation for the month of June had eased up on a sequential basis but still managed to remain above the 6 per cent threshold, according to IANS report.
- The data, furnished by the National Statistical Office (NSO), showed that the Consumer Price Index (CPI) slipped to 6.26 per cent last month from 6.30 per cent in May.
- The Finance Ministry has already cautioned of inflationary risks to the economy due to global demand-driven recovery in commodity prices and high input cost, according to an IANS report.
- The Department of Economic Affairs (DEA) has released the Monthly Economic Review for June 2021 which noted that inflationary pressures took an upturn in May 2021 with headline inflation (CPI-C) and WPI inflation touching a high of 6.3 percent and 12.94 per cent, respectively, according to an IANS report.
- Supply side disruptions in states and unfavourable base effects drove the broad-based momentum in retail inflation across food, fuel and core categories. On the other hand, electricity and manufactured products inflation led the uptick in wholesale inflation, the IANS report said.
- Healthy monsoon coverage, gradually rising Kharif sowing and unlocking of states is expected to ease food, and thereby headline, inflation, it said. “However, risks due to global demand-led recovery in commodity prices and input cost pressures remain,” it said, IANS reported.
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