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Retail Inflation Spikes to Seven-Month High of 3.05% in May

Retail inflation spiked to a seven-month high of 3.05 percent in May mainly due to costlier food items, government data showed on Wednesday, 12 June.

The previous high was in October 2018, when the retail inflation print came in at 3.38 percent.

The consumer price index (CPI) based retail inflation for April was revised marginally upwards to 2.99 percent from the earlier estimate of 2.92 percent, data released by the Central Statistics Office (CSO) showed.

Also Read: WPI Inflation at 3-Month High in March on Costlier Food, Fuel

Retail inflation for the corresponding month, a year ago, stood at 4.87 percent.

As per the data, inflation in the food basket rose to 1.83 percent in May, higher than 1.1 percent in April.

Retail inflation is a crucial data point, keenly watched by the Reserve Bank while deciding its monetary policy.

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