NEW DELHI: Retail inflation based on consumer price index (CPI) stood at 6.09 per cent in the month of June, data released by government on Monday showed. The last recorded CPI number came in March, at 5.84 per cent.
Retail inflation numbers for the month of April and May were not released by the government due to insufficient data collection in wake of the ongoing Covid-19 crisis.
However, the inflation figure exceeded the Reserve Bank of India‘s (RBI’s) medium-term target of 4 per cent. The RBI mainly factors in the retail inflation while arriving at its bi-monthly monetary policy.
The central bank has already reduced its benchmark repo rate by a cumulative 115 basis points since the lockdown started on March 25.