Retail inflation zooms to over 6% in May (Roundup)


New Delhi, June 14 | Exponential rise in food prices sequentially rocketed India’s retail inflation in May as the Consumer Price Index (CPI) increased to over 6 per cent.

According to the data furnished by the National Statistical Office (NSO), the CPI rose to 6.30 per cent last month from 4.23 per cent in April.

Region wise, the CPI Urban rose to 6.04 per cent last month from 4.71 per cent in April.

Similarly, the CPI Rural climbed to 6.48 per cent in May from 3.75 per cent in April.

As per the NSO data, Consumer Food Price Index increased to 5.01 per cent last month from 1.96 per cent in April.

The CFPI readings measure the changes in retail prices of food products.

In terms of CPI YoY inflation rate, pulses and products’ prices jumped by 9.39 per cent in May 2021.

Meat and fish prices rose 9.03 per cent, eggs became dearer by 15.16 per cent and the overall price of food and beverages category was up 5.24 per cent.

However, vegetable prices declined by 1.92 per cent.

Besides, the official data, the inflation rate for fuel and light was at 11.58 per cent.

“Some categories in the food basket such as meat and fish, edible oil, fruits and pulses continue to show high inflation, both on a YOY and sequential basis, reflecting structural supply bottlenecks that might have got further aggravated by the fresh disruption brought in by the second Covid wave,” Acuite Ratings and Research’s Chief Analytical Officer Suman Chowdhury said.

“Importantly, the core inflation is also estimated to be higher with the additional push from increased retail fuel prices as well as the pass through of increased manufacturing costs, reflected in the WPI data.”

India Ratings and Research’s Principal Economist Sunil Kumar Sinha said: “Although it is still too early to believe that retail inflation will remain in excess of 6 on a sustained basis given the high base of last year, Ind-Ra believes a rising wholesale inflation, which is gradually finding a reflection in the retail inflation as well, is going to make things difficult for the RBI.”

“However, given the growth inflation dynamics, Ind-Ra believes the RBI will not be in a hurry to tinker with either the policy rate or its accommodative policy stance.”

Emkay Global’s Lead Economist Madhavi Arora said: “In conjunction with a low base, sequential acceleration across food and core segments drove inflation higher.”

“As seen in WPI inflation, CPI food inflation was up sharp 5 per cent partly led by seasonal factors while fuel inflation crossed double digits amid transmission of higher international prices to retail level. Core inflation also saw broad-based increase, making the YoY print high at 6.6 per cent.”

Source: IANS

Next Story



Don’t get confused with your purpose and passion as both go well together

Passion as well as purpose both goes hand in hand. Purpose defines the passion in life. If you are passionate about something then there will be a purpose behind it. And if you feel that you are passionate about something but you are not able to find the purpose behind it then please do self-analysis. There is surely something that you are missing out on. Munish Maya in his Instagram post took out few minutes to write about Purpose and Passion, as he feels that it is an important topic to be discussed with everyone. Mr. Maya started writing his post by making a statement, “Many people confuse passion with purpose. Others struggle to find both.”

Self-analyzing is a very tough job and it’s completely natural to get confused. Solving this problem Munish Maya says, “Passion & purpose are distinct. Passion is the drive, the energy that makes us feel good. Like they say, ‘do what you love.” People follow their passion to live a stress-free life where they can enjoy whatever the work they are doing. It is well said, ‘Follow your passion and there will not be a single day when you will have to work.’ Whereas the most asked question in relevance to passion, ‘What is the purpose?’ is answered very well by Munish

Maya in his same post, “Your purpose is the reason, your ‘Why’ behind what you do.” 

Passion and purpose go hand in hand. Munish Maya says, “From over a decade, I experienced, learned, evolved & developed new passions. They have changed my life & perspective in a great way.” Passion serves the purpose of life. Munish Maya himself followed his passion when he realized that he cannot do a 9-5 profile job, and look at him now, he is the 1st Global Brand Ambassador of India. His passion leads him to define the purpose of his life. The only purpose of Munish Maya’s life is to serve people by guiding and enlightening them about their lives.

This confusion between passion and purpose is not for the lifetime. To which Munish Maya explained by saying, “But the sweet spot is where your passion & purpose align.

One fuels your internal drive while the other maximizes your outward impact.” When both purpose and passion start to align then you will start gaining success and positivity in life.

Munish Maya describes it more beautifully, “And in the path of manifestation, Purpose fuels Passion. By focusing on your purpose, you align your work with your deepest drive- your passion.” If you are passionate about something in your life, then the purpose of your life is served.


Please enter your comment!
Please enter your name here