CPI eases marginally to 7.01% in June

13 Jul 2022 Evaluate

India's retail inflation measured by the Consumer Price Index (CPI) eased marginally to 7.01 percent in the month of June, 2022 mainly due to slight easing in food prices. In May 2022, retail inflation stood at 7.04 percent and 6.26 per cent in June 2021. Though, this is the sixth consecutive month when the CPI remained above the Reserve Bank of India's (RBI) upper margin of 6%. Inflation in the food basket in June 2022 was 7.75 percent, compared to 7.97 percent in the preceding month.

The National Statistical Office (NSO) under Ministry of Statistics and Programme Implementation in its data has showed that the Rural CPI (General) in June 2022 stood at 7.09 per cent as against 7.08 per cent in May. The Urban CPI (General) stood at 6.92 per cent in June as against 7.08 per cent in May. The index value for Rural, Urban and Combined CPI (General) stood at 173.6, 171.5 and 172.6 respectively, in June 2022.

As per the data, the inflation print in vegetables eased to 17.37 percent during the month from 18.26 percent in May, while for 'pulses and products' it slowed to (-) 1.02 percent against (-) 0.42 percent. However, the rate of price rise in 'cereals and products' moved up to 5.66 percent, from 5.33 percent in the preceding month. Inflation in the 'fuel and light' category rose to 10.39 percent as against 9.54 percent, while that for fruits increased to 3.10 percent from 2.33 percent.

The Price data are collected from selected 1114 urban Markets and 1181 villages covering all States/UTs through personal visits by field staff of Field Operations Division of NSO, MoSPI on a weekly roster. During the month of June 2022, NSO collected prices from 99.7% villages and 98.2% urban Markets while the Market-wise prices reported therein were 89.8% for rural and 93.7% for urban.