<p>The Consumer Price Index (CPI) inflation rate in June marginally eased to 7.01%, on the back of falling edibles prices. However, with retail inflation staying way above the Reserve Bank of India’s upper tolerance limit of 6% for a sixth consecutive month, Finance Minister Nirmala Sitharaman on Tuesday said item-by-item monitoring of prices and pointed attack on inflation will need to continue.</p>.<p>“As RBI has estimated, till the start of the second half of the (fiscal) year, both RBI and government will have to be mindful,” she told reporters in Delhi.</p>.<p>Retail inflation stood at 7.04% in May and 6.26% in June 2021, according to data from the National Statistical Office (NSO).</p>.<p>This is the third consecutive month that retail inflation has hovered above 7%.</p>.<p>"With commodity prices having eased sharply on the back of a feared global recession, and the decline in vegetable and edible oil prices, the Indian retail inflation prints should soften below 7% in the coming months," said ICRA Chief Economist Aditi Nayar.</p>.<p>The marginal easing in last month’s retail inflation due to the cooling of edible prices was evident in the fall in Consumer Food Price Index (CFPI) inflation rate to 7.75% in June 2022 from 7.97% in May 2022.</p>.<p>The overall CFPI stood at 173.8 in June 2022, while it was 161.3 in the corresponding month last year.</p>.<p><em>(With PTI inputs)</em></p>
<p>The Consumer Price Index (CPI) inflation rate in June marginally eased to 7.01%, on the back of falling edibles prices. However, with retail inflation staying way above the Reserve Bank of India’s upper tolerance limit of 6% for a sixth consecutive month, Finance Minister Nirmala Sitharaman on Tuesday said item-by-item monitoring of prices and pointed attack on inflation will need to continue.</p>.<p>“As RBI has estimated, till the start of the second half of the (fiscal) year, both RBI and government will have to be mindful,” she told reporters in Delhi.</p>.<p>Retail inflation stood at 7.04% in May and 6.26% in June 2021, according to data from the National Statistical Office (NSO).</p>.<p>This is the third consecutive month that retail inflation has hovered above 7%.</p>.<p>"With commodity prices having eased sharply on the back of a feared global recession, and the decline in vegetable and edible oil prices, the Indian retail inflation prints should soften below 7% in the coming months," said ICRA Chief Economist Aditi Nayar.</p>.<p>The marginal easing in last month’s retail inflation due to the cooling of edible prices was evident in the fall in Consumer Food Price Index (CFPI) inflation rate to 7.75% in June 2022 from 7.97% in May 2022.</p>.<p>The overall CFPI stood at 173.8 in June 2022, while it was 161.3 in the corresponding month last year.</p>.<p><em>(With PTI inputs)</em></p>