India's Retail Inflation Eases to 4.75% in May
India's retail inflation, measured by the Consumer Price Index, eased to 4.75% in May from 4.83% in April, according to data released by the Ministry of Statistics & Programme Implementation on Wednesday.
The inflation in May was, however, higher than the 4.31% recorded in May 2023 but still within the Reserve Bank of India's target range of 2% to 6%.
Inflation in the food basket declined to 8.69% in May, from 8.70% in April, but it was higher than the 2.96% posted in the period a year ago.
The inflation rates for rural and urban areas in May came in at 5.28% and 4.15%, respectively.
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