India’s CPI Slows Slightly – Trade Balance Continues to Go into the Red

India’s consumer prices remain elevated. The CPI increased by 7.01% YoY in June compared to 7.04% in the previous month. The slight deceleration was mainly due to food prices which returned to slightly normal. However, energy prices remain high. The energy category rose 10.3% YoY and 1.03% month-on-month.

Imports, as well as exports, increased in June. Imports rose to a value of $66.31 billion from $63.58 billion the previous month. Exports increased to $40.13 billion from $37.94 previously.

Thus, the trade deficit continued to widen in June to $-26.18 billion from $-25.64 previously. The trade deficit is mainly due to gold and crude oil imports, a government spokesman said.

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