Consumer Inflation Accelerates, Factory Production Slips | Read
Retail inflation accelerated to a five-month high of 5 per cent in June, from 4.87 per cent in the previous month, official data showed on Thursday. Economists in a poll by news agency Reuters had expected retail inflation - also known as consumer inflation - at an annual 5.30 per cent. Surging fuel prices - triggered by a surge in crude oil prices during the period - and weakness in the rupee against the US dollar led to the increase in inflation. Inflation remains above Reserve Bank of India's medium-term target of 4 per cent target for an eighth month in a row.
