June consumer inflation 10.02 pct year-on-year: Govt

Jul 18, 2012 |

Reuters

New Delhi

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India's annual consumer price inflation slowed slightly in June to 10.02 per cent, government data showed on Wednesday, but food prices accelerated as concerns rose about below-average monsoon rains.

Despite the slight moderation in price rises last month, inflation remains 'way above' comfort levels, central bank Governor Duvvuri Subbarao said on Monday.

Food inflation in the CPI accelerated to 10.71 per cent in June from 10.66 per cent in May. The revised CPI number for May remained unchanged at 10.36 per cent.

Inflation as measured by India's benchmark wholesale price index slowed to 7.25 per cent in June, the lowest level in five months, helped by slower increases in fuel prices, data on Monday showed.

Unlike most central banks, the Reserve Bank of India focuses mainly on the wholesale price index for monitoring inflation, as annual consumer price inflation data was only launched in 2012.

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