Retail inflation rises to 5.08% in June, IIP jumps to 5.9% in May

New Delhi, July 12

Retail inflation increased to 5.08 per cent in June as kitchen items became dearer, according to government data released on Friday.

The Consumer Price Index (CPI) based retail inflation was 4.8 per cent in May 2024 and 4.87 per cent in June 2023 (previous low). Inflation in the food basket was 9.36 per cent in June, up from 8.69 per cent in May, according to the data released by the National Statistical Office (NSO).

The RBI projected the CPI inflation for 2024-25 at 4.5 per cent, with Q1 at 4.9 per cent, Q2 at 3.8 per cent, Q3 at 4.6 per cent, and Q4 at 4.5 per cent.

Industrial output grows

India’s industrial production grew 5.9 per cent in May this year, mainly due to good show by mining and power sectors, according to official data released on Friday. The factory output measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 5.7 per cent in May 2023.

India’s Index of Industrial Production grew by 5.9 per cent in May 2024, an official statement said.