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India's retail inflation likely reached 8-month high in June: survey
Commodity Online | July 11 2019
UPDATED 11:30:57 IST

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India's retail inflation likely reached an eight-month high in June on rising food prices, but stayed under the Reserve Bank of India's medium-term target of 4% for an eleventh straight month, a Reuters poll predicted.

Another reading below the inflation target will likely support the RBI's decision last month to cut interest rates to boost economic growth that slowed to more than a four-year low in the January-March quarter.

According to the median consensus of 40 economists polled by Reuters between July 4-7, retail inflation rose at an annual rate of 3.20% in June, up from 3.05% in May.

Forecasts ranged between 2.90% and 3.84%.

Food prices which account for nearly half of the inflation basket have been rising since early this year, a dramatic shift from their deflationary path in late 2018.

If the consensus forecast is realised, retail inflation will have been below the RBI's medium-term target of 4% since July last year.

 

Commodity Arrivals Rate
Mustard Oil 6.95 10300.00
Coconut Oil 1.5 18500.00
Arecanut 16 24000.00
Rubber 0.1 11700.00

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