June CPI inflation at 7.01%

India's headline retail inflation rate, as measured by the Consumer Price Index (CPI), stood at 7.01% in June 2022 from 7.04% in May 2022, data released on 12 July 2022 by the Ministry of Statistics and Programme Implementation showed.

This is the sixth consecutive month that the CPI data has breached the Reserve Bank of India's (RBI) upper margin of 6%.

The June retail inflation will be factored in by the RBI in its next bi-monthly monetary policy meeting scheduled during 2-4 August 2022.

The CPI-based inflation has remained above 6% since January this year pushing the central bank to go for two successive hikes in key policy rates.

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