Amid sharp fall in food as well as oil prices, consumer inflation of the Indian economy is expected to cool to record low levels for the month of June. The move shall intensify a call for interest rate cuts.

Meanwhile RBI is also trying to figure out the impact of the newly implemented GST on inflation even though majority of the food products are exempted from the GST net.

For the month of June, CPI or consumer price inflation is likely to restore to levels of 1.7% as against 2.18% percent for the month of May. If such levels are sustained, it shall be the lowest recored CPI since the launch of the new series in 2012 and much below the RBI's inflationary target for the medium term of 4% for eight successive term.

The data for the CPI inflation shall be released on July 12 at 12 GMT. Core inflation has in an other case stood well above over 4% levels since the year 2015.

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