Retail inflation spikes to 7-month high of 3.05% in May on costlier food articles

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 spiked to a seven-month high of 3.05% in May mainly due to costlier food items, government data showed on June 12.

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 of India (RBI) while deciding its monetary policy.