India's retail inflation hits record low of 1.54% in June
India's retail inflation in June cooled to a record low of 1.54% from 2.18% in May, according to government data. Decline in inflation is mainly due to Goods and Services Tax, which prompted shops to de-stock and clear up inventory through discounts and rebates. Industrial output growth dropped to 1.7% in May from 8% in the same month last year.