New Delhi: India’s retail inflation rate eased slightly in May, although food prices remained elevated, government data showed on Wednesday.
Annual retail inflation in May was 4.75%, down from 4.83% in April and lower than 4.89% forecast by 50 economists polled by Reuters.
Food inflation, which accounts for nearly half of the overall consumer price basket, rose 8.69% year-on-year in May, compared with an 8.70% rise in the previous month. Food prices have been accelerating at more than 8% year-on-year since November 2023.
The inflation rate for cereals was 8.69% year-on-year in May, compared with 8.63% in the previous month and pulses prices rose 17.14%, compared with 16.84% in April.
Vegetable prices rose 27.33% in the month of May, against 27.8% in the previous month.
(Reporting by Aftab Ahmed and Sarita Chaganti Singh; Editing by Mrigank Dhaniwala)
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