ceicdata.com
The headline retail consumer price index (CPI) grew by 7% y/y, keeping inflation steady from the previous month. This marks the sixth consecutive month the CPI has remained outside of the upper target band of the monetary policy committee. On the bright side, core inflation climbed down to 6%, reducing by almost 10bps. The CPI pertaining to food and beverages, which occupies the largest weight in the inflation basket, grew by 7.6% y/y in June, decelerating by 0.2pp from the previous month.
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