Categories: Economy

India’s retail inflation touches 6.3% in May

India’s retail inflation shot up to a six-month high of 6.3 per cent in May, after easing to a three-month low of 4.23 per cent in April. Inflation, based on Consumer Price Index (CPI), has breached the Reserve Bank of India’s (RBI) target range for the first time after five months. The RBI is mandated to maintain the crucial number at 4 per cent in the medium term, with a 2 percentage point margin on either side as part of its inflation target.

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National Statistical Office data for retail inflation showed food inflation shot up to 5% in May from 2% in April as prices of protein items such as meat, fish, eggs, oils and fats accelerated. The fuel bill also went up 11.6% as the government increased retail prices of petrol and diesel after state election results on 2 May. Services inflation jumped as costs of health, transport and personal care rose during the second wave of the pandemic.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.