Retail Inflation Eased To 7.04% In May, But Too Early To Call A Peak
NDTV
India's retail inflation eased slightly to 7.04 per cent in May from a year ago, after hitting an eight-year high in April, data showed on Monday.
India's retail inflation eased slightly to 7.04 per cent in May from a year ago, after hitting an eight-year high in April, data showed on Monday.
That compared to the consumer price-based inflation (CPI) rate of 7.79 per cent in April, the fastest pace in eight years. The previous high was recorded at 8.33 per cent in May 2014. April's print was higher than 6.95 per cent in March and 4.23 per cent a year ago.
While the latest print for May of 7.04 per cent is below April's figure, it has stayed well above the Reserve Bank of India's (RBI's) upper tolerance limit for the fifth consecutive month.
Food inflation, which accounts for nearly half the CPI basket, was 7.97 per cent, marginally lower than 8.31 per cent in April.
