The rise in food prices which resulted in an acceleration in retail inflation in June indicates that the fight against inflation is ‘far from over’, the Reserve Bank of India (RBI) said in a report released on Monday.
The Consumer Price Index (CPI) jumped for the first time in five months to 4.81 per cent in June from 4.31 per cent in May primarily on account of an increase in food inflation, however it remained within the RBI’s tolerance band of 2-6 per cent. The headline inflation stood at 4.7 per cent in April.
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