NEW DELHI: Inflation marginally accelerated in June to a five-month high of 4.86% on the back of stubborn food prices posing a fresh challenge for the central bank and the government struggling with grim macroeconomic data.
Data released by the commerce ministry on Monday showed the annual rate of inflation, based on monthly WPI (wholesale price index), stood at 4.86% in June compared to 4.70% for the previous month and 7.58% during the corresponding month of the previous year.
Moderating wholesale price inflation had come as a huge relief for the government grappling with stubborn price pressures ahead of key state elections. The sudden rise in inflation comes against the backdrop of falling exports, a wobbly currency and sliding industrial output growth. High food prices posed a fresh worry as vegetable prices rose an annual 9.74% in June after displaying some signs of easing in the previous months. Vegetable prices shot an annual 16.47% in June, while onion prices rose 114% during the month and emerged as a fresh pressure point.
Data released by the commerce ministry on Monday showed the annual rate of inflation, based on monthly WPI (wholesale price index), stood at 4.86% in June compared to 4.70% for the previous month and 7.58% during the corresponding month of the previous year.
Moderating wholesale price inflation had come as a huge relief for the government grappling with stubborn price pressures ahead of key state elections. The sudden rise in inflation comes against the backdrop of falling exports, a wobbly currency and sliding industrial output growth. High food prices posed a fresh worry as vegetable prices rose an annual 9.74% in June after displaying some signs of easing in the previous months. Vegetable prices shot an annual 16.47% in June, while onion prices rose 114% during the month and emerged as a fresh pressure point.
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