Retail inflation falls to 9.31 percent in May

India's retail inflation declined to 9.31 percent in May, helped by slower increase in prices of fruits, vegetable oil and milk products, government data showed Wednesday.

The inflation, based on the Consumer Price Index (CPI), was recorded at 9.39 percent in the previous month and 10.39 percent in March, according to data released by the Central Statistics Office (CSO) here.

Fruits became costlier by 6.01 percent year-on-year and vegetable prices rose by 9.78 percent. Oils and fats prices grew by a slower rate of 5.49 percent and prices of milk products increased by 7.06 percent.

However, prices of cereals surged by 16.29 percent during the month under review year-on-year. Egg, fish and meat became costlier by 12.52 percent.

Also, prices of non-alcoholic beverages and prepared meals made considerable upward movement.

Price easing was more in rural areas. Retail inflation in the rural sector declined to 8.98 percent in May as compared to 9.16 percent in the previous month. In the urban sector, inflation declined marginally to 9.65 percent during the month under review as compared to 9.73 percent in the previous month.