In June, Consumer Price Index (CPI) inflation eased to 2.1%, while Wholesale Price Index (WPI) inflation fell to a 20-month low into the negative zone, at -0.1%. The sequential drop in CPI inflation was mainly driven by price drops in key food categories such as vegetables, pulses, meat & fish, cereals, sugar, milk, and spices.ICICI Securities highlights that rural demand is outperforming urban demand. The brokerage expects overall consumption growth to remain robust, primarily because rural consumption, a larger component of the total consumption, is now recovering after being significantly impacted by the COVID-19 pandemic in recent years.