New Delhi: There has been some relief from inflation. India’s retail inflation rate stood at 7.04% in May, as against 7.79 percent in April. However, this is the fifth consecutive month that the inflation rate has crossed the RBI’s upper limit of 6%. In May, the inflation rate has come down due to the reduction in the price of food items, petrol and diesel and electricity.
According to government data released on Monday, the Consumer Price Index (CPI) based retail inflation declined to 7.04% in May. It was 6.30% a year ago in May 2021. Food inflation declined to 7.97% from 8.38%. Rising food prices have become a major concern for families already hit by the pandemic.
Food inflation, which accounts for nearly half of the CPI basket, rose to 7.97 per cent year-on-year in May. At the same time, food items became a little cheaper in the month of May as compared to April. Food inflation stood at 8.31% in April.
Explain that the inflation rate has come down due to the reduction in the inflation of food items to fuel and electricity. Inflation in clothing and footwear also declined marginally. All these have a direct effect on the inflation rate of May. However, this is the fifth consecutive month that the inflation rate has crossed the RBI’s upper limit of 6%. Retail inflation was recorded at 6.01% in January 2022, 6.07% in February, 6.95% in March and 7.79% in April.
first published:June 13, 2022, 7:24 p.m.