Retail inflation eases marginally to 7.01 pc in June

Retail inflation dropped marginally to 7.01 per cent in June mainly due to slight easing in food prices, though it still remained above the Reserve Bank's comfort level.

The consumer price index (CPI) based inflation stood at 7.04 per cent in May and 6.26 per cent in June 2021.

Inflation in the food basket in June 2022 was 7.75 per cent, compared to 7.97 per cent in the preceding month, as per the National Statistical Office (NSO) data.

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The RBI has been asked to ensure that inflation remains at 4 per cent with a margin of 2 per cent on either side.

The retail inflation is ruling above the RBI's upper tolerance limit of 6 per cent since January 2022.