With this, retail inflation has remained within the Reserve Bank of India's target range of 2-6% since September 2023.
Year-on-year inflation rate based on the all-India Consumer Price Index (CPI) number is 4.75% (Provisional) for May 2024. Corresponding inflation rates for rural and urban areas are 5.28% and 4.15%, respectively, Ministry of Statistics and Programme Implementation said.
The CPI inflation in May 2024 is, however, higher than the 4.31 per cent recorded in the year-ago month of May 2023.
Inflation in the food basket was 8.69 per cent in May, marginally down from 8.70 per cent in April, according to the data released by the National Statistical Office (NSO).
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