India’s retail inflation accelerated to 3.93 per cent in May this year on an annual basis, rising for the fifth consecutive month under the new series. The inflation print was moderately higher from 3.48 per cent recorded in April. According to data released by the Ministry of Statistics and Programme Implementation, inflation in rural areas edged up to 4.25 per cent, while in urban regions it rose to 3.53 per cent. The food inflation rate, based on the All India Consumer Food Price Index, stood at 4.78 per cent last month, up from 4.2 per cent in the preceding month. Despite global volatility in energy markets linked to developments in West Asia, domestic inflation remained within the Reserve Bank of India’s tolerance limit.
The top items showing high inflation at the all India combined level included Silver, Gold, Diamond and Platinum Jewellery, Tomato, Ginger and Raisin. In contrast, items with lowest inflation included Potato, Peas, Motor Car and Jeep, Cumin and Motor cycle and scooter. According to the data, the increase in inflation in the previous month was mainly attributed to rising prices in personal care, social protection, restaurants and accommodation services, tobacco, intoxicants, and Food and beverages.
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