New Delhi: Retail inflation spiked to a seven-month high of 3.05 per cent in May mainly due to costlier food items, government data showed on Wednesday.
The consumer price index (CPI) based retail inflation for April was revised marginally upwards to 2.99 per cent from the earlier estimate of 2.92 per cent, data released by the Central Statistics Office (CSO) showed.
Retail inflation stood at 4.87 per cent in May 2018.
The previous high was in October 2018, when the retail inflation print came in at 3.38 per cent.
₹294 Crore Pune Deal Sealed, Lodha Developers Buys 80% Stake In SRPL To Expand Business
Bharat AI: A Vision For Sustainable Growth And Public Welfare
Mumbai: Odd–Even Parking System Introduced In Powai To Ease Congestion On Key Hiranandani Stretch
IND VS PAK T20 World Cup: Banned In Pakistan, Hanumankind Set To Perform 'Dhurandhar' Title Track In Pre-Match Performance In Colombo
As per the data, inflation in the food basket rose to 1.83 per cent in May, higher than 1.1 per cent in April.
Retail inflation is a crucial data point, keenly watched by the Reserve Bank while deciding its monetary policy.
