Double whammy for economy! Inflation up, growth down as June CPI surges to 5%, May IIP growth falls to 3.2%

Double whammy for economy! Inflation up, growth down as June CPI surges to 5%, May IIP growth falls to 3.2% Double whammy for the economy! Inflation up, growth down as June CPI surges to 5%, May IIP growth falls to 3.2% (Image: Reuters)

It’s a double whammy for the economy as the CPI Inflation for the month of June touched 5%, while the IIP growth in May slumped to a low of 3.2%. Global oil prices, which have risen more than 20% this year and nearly 13%in June, could be a major factor behind higher inflation in recent few months as it is India’s costliest import.

Details awaited…

Source: Financial Express