Retail Inflation Data For June 2023: After decreasing continuously for four months, the inflation rate figures have again taken a U-turn. In June 2023, due to the sharp jump in the prices of food items, there has been an increase in the retail inflation rate again. In the month of June, the retail inflation rate was 4.81 percent, while in May 2023, the retail inflation rate was 4.31 percent.
expensive food items
According to the data released by the Ministry of Statistics, there has been a huge increase in the inflation rate of food items. Food inflation has increased to 4.49 percent in June, which was 2.96 percent in May 2023. The food inflation rate in June 2022 was 7.75.
pulses and vegetables became expensive
The main reason for the increase in the inflation rate in the month of June is the prices of Arhar and other pulses. Inflation in pulses was 10.53 per cent in June, while it was 6.56 per cent in May. The inflation rate of greens and vegetables has been -0.93 percent in June, while it was -8.18 percent in May. Inflation in spices increased to 19.19 per cent from 17.90 per cent in May. The prices of milk and its allied products still remained at 8.56 per cent as compared to 8.91 per cent in May. The inflation rate of food grains and related products stood at 12.71 per cent, which was 12.65 per cent in May. However, the inflation rate of oil and fats came down to -18.12 percent, which was -16.01 percent in May. The inflation rate of sugar was 3 percent, which was 2.51 percent last month.
Shock to the hopes of cheap loans!
The figure of retail inflation is 4.81 percent in June i.e. RBI’s tolerance band is between 2 to 6 percent. But this year, due to heavy rains in many states of the country, there is a possibility of bad effect on the production of Kharif crops and vegetables. There is a danger of El Nino. In such a situation, there is a danger of increasing inflation. RBI Governor Shaktikanta Das himself has said that the war against inflation is not over yet. In such a situation, on August 10, 2023, water may turn on the hopes of relief from RBI on the front of interest rates or reduction in policy rates.
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