June CPI Inflation 2026: Retail Inflation Jumps Above RBI’s 4.38% Silver Overtakes Gold
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June CPI Inflation 2026 Data: India’s consumer price index inflation (CPI inflation) breached the Reserve Bank of India (RBI)’s medium-term target of 4% in June for the first time in 16 months. India’s CPI Inflation data (also called as retail inflation) came in at 4.38% in June 2026. Meanwhile, silver overtook gold as the costliest commodity in June.
India’s retail inflation breached the central bank’s medium-term target as higher food and fuel prices, the Iran-US war and a weak monsoon added to cost pressure. Retail inflation is measured by the annual change in the consumer price index (CPI).
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The jump in CPI inflation in June was in congruence with expectations of the adverse impact of ripple effects of geopolitical uncertainty and El-Nino affect and weak monsoon.
“The expected increase is less a reflection of broad-based inflationary pressures and more a consequence of a gradual firming in food, fuel and select services categories over recent months,” Reuters quoted Kunal Kundu, India economist at Societe Generale.”At the same time, despite a growing divergence between wholesale and consumer prices following the sharp increase in global commodity and energy costs, the transmission from producer prices to retail inflation is likely to remain partial and delayed.”
Food Inflation At 5.32%
The food inflation in the country increased to 5.32% in June 2026 driven by inflation in perishable commodities like ginger and tomatoes.
CPI Inflation in May
The Consumer Price Index (CPI) inflation, also known as retail inflation, jumped to 3.93% in May. Silver jewellery, tomato, gold/diamond/platinum jewellery, ginger, raisin, kishmish and monacca remained among top five items with high inflation at All India combined level in May. Potato, peas, motor car and jeep, Cumin (Jeera), motor cycle and scooter, are among the top five items with low inflation in May, as per MoSPI’s provisional data.
