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Retail inflation spikes to 7-month high of 3.05% in May

Thursday, June 13, 2019

Retail inflation spiked to a seven-month high of 3.05% in May mainly due to costlier food items, government data showed yesterday.

The consumer price index (CPI) based retail inflation for April was revised marginally upwards to 2.99% from the earlier estimate of 2.92%, data released by the Central Statistics Office (CSO) showed.

Retail inflation stood at 4.87% in May 2018.

The previous high was in October 2018, when the retail inflation print came in at 3.38%. As per the data, inflation in the food basket rose to 1.83% in May, higher than 1.1% in April.

Retail inflation is a crucial data point, keenly watched by the Reserve Bank while deciding its monetary policy.

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