India’s retail inflation rises more than expected in June
2023.07.12 08:35
© Reuters. FILE PHOTO-A vendor sells vegetables at a retail market in Kolkata, India, December 12, 2018. REUTERS/Rupak De Chowdhuri/file photo
NEW DELHI (Reuters) -India’s annual retail inflation quickened in June, snapping four months of easing, due to surging prices for vegetables.
June retail inflation rose to 4.81%, higher than both the revised 4.31% for the previous month and the 4.58% expected in a Reuters poll of 55 economists.
Food inflation, which accounts for nearly half of the overall consumer price basket, rose to 4.49% against a revised 2.96% in May.
Erratic and incessant rainfall in northern India could push vegetable prices higher in the coming months. Vegetable prices increased 12% on a month-on-month basis in June.
