India’s retail inflation hits a record low of 1.54 percent in June, lowest in five year, owing to sustained dip in food prices, firming up hopes of a rate cut in less than a month’s time. Retail inflation, measured by Consumer Price Index (CPI) remained low in May touching 2.18 percent and 5.77 percent in June last year. Low inflation levels can indicate poor demand and weak economic activity. The inflation number is now below the range of the Reserve Bank of India’s (RBI) forecast for the current financial year, opening scope for a rate cut on August 2 by the apex bank.
India’s retail inflation hits a record low of 1.54 percent in June, lowest in five year, owing to sustained dip in food prices, firming up hopes of a rate cut in less than a month’s time. Retail inflation, measured by Consumer Price Index (CPI) remained low in May touching 2.18 percent and 5.77 percent in June last year. Low inflation levels can indicate poor demand and weak economic activity. The inflation number is now below the range of the Reserve Bank of India’s (RBI) forecast for the current financial year, opening scope for a rate cut on August 2 by the apex bank.
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