The retail inflation in May rose to 3.05 per cent as compared to 2.99 per cent in the previous month, government data showed on Wednesday.
The hike was mainly due to the rise in food prices, according to the Ministry of Statistics and Programme Implementation.
Food prices, which is a gauge to measure changes in kitchen budgets, grew 1.83 per cent in May as compared to 1.1 per cent in April.
However, retail inflation is below the Reserve Bank of India's medium-term target of four per cent, giving it room for more interest rate cuts.
Meanwhile, industrial production grew at a six-month high of 3.4 per cent in April mainly on account of improvement in mining and power generation.
The Index of Industrial Production (IIP) had expanded by 4.5 per cent in April 2018. The expansion in the mining sector was 5.1 per cent compared to 3.8 per cent in the year-ago month.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app