Key Points
India's inflation landscape exhibited spatial variability in June 2024, with 12 out of 22 states reporting inflation rates exceeding the national average of 5.1 per cent, according to SBI research...
Odisha recorded the highest inflation at 7.22 per cent, followed closely by Bihar at 6.37 per cent and Karnataka at 5.98 per cent..
This divergence highlights regional economic disparities as the country grapples with rising prices...
Concurrently, the Index of Industrial Production (IIP) surged to a seven-month high of 5.9 per cent in May, reflecting robust growth in mining (5.9 per cent), manufacturing (4.6 per cent), and a remarkable increase in electricity production (13.7 per cent)...
On the global front, the U.S. inflation rate's slight decline by 0.1 per cent from May, bringing the 12-month rate to 3 per cent, the lowest in over three years, may set the stage for a Federal Reserve rate cut by September...
