India Inflation Eases To 2.10%, Lowest Since Early 2019

(RTTNews) - India's consumer price inflation eased further in June to the lowest level in more than six years, driven by the renewed fall in food prices, official data revealed on Monday.

Consumer price inflation eased more-than-expected to 2.10 percent in June from 2.82 percent in May. The expected rate was 2.50 percent.

Moreover, this was the lowest inflation rate since January 2019, when prices had fallen just below 2.0 percent.

Food inflation turned negative in June, with prices falling by 1.06 percent versus a 0.99 percent increase in May.

The significant decline in headline inflation and food inflation was mainly attributed to the favorable base effect and decline in inflation of vegetables, pulses and products, meat and fish, cereals and products, sugar and confectionery, milk and products, and spices, the ministry said.

The annual price growth in fuel and light moderated to 2.55 percent from 2.84 percent. Meanwhile, housing inflation rose to 3.24 percent from 3.16 percent.

On a monthly basis, consumer prices moved up 0.62 percent in June.

Data released earlier on Monday showed that India's wholesale prices dropped 0.13 percent year-over-year in June, which was the first decline since November 2023.