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India inflation likely slowed in June as output returns: Poll (Thursday, July 9, 2020)
India’s consumer price inflation likely eased in June from March, a Reuters poll predicted, as loosened coronavirus-led restrictions in most of the country drove a slight recovery in economic activity and helped reduce a supply crunch.
 
The July 3-8 poll median of over 35 economists showed India’s retail inflation in June moderated to 5.30% from March’s revised 5.84%, still breaching the Reserve Bank of India’s medium-term target of 4.00%.

Headline inflation numbers were not released in April and May due to inadequate data collection owing to lockdown restrictions.

If the consensus is realised it would be the lowest inflation rate since November last year but would still exceed the central bank’s mandate for a ninth consecutive month.
 
A decline in price pressure might help the RBI, which has already cut its repo rate by a cumulative 115 basis points since the lockdown started on March 25, to stay on its accommodative path and ease policy further.