India’s May retail inflation eases slightly to 4.75%

INDIA’S retail inflation rate eased slightly in May, although food prices remained elevated, government data showed on Wednesday (Jun 12).

Annual retail inflation in May was 4.75 per cent, down from 4.83 per cent in April and lower than 4.89 per cent forecast by 50 economists polled by Reuters.

Food inflation, which accounts for nearly half of the overall consumer price basket, rose 8.69 per cent year on year in May, compared with an 8.7 per cent rise in the previous month. Food prices have been accelerating at more than 8 per cent year on year since November 2023.

The inflation rate for cereals was 8.69 per cent year on year in May, compared with 8.63 per cent in the previous month and pulses prices rose 17.14 per cent, compared with 16.84 per cent in April.

Vegetable prices rose 27.33 per cent in the month of May, against 27.8 per cent in the previous month. REUTERS