Analysts polled by Reuters had forecast May's annual increase in the consumer price index at 4.83 percent, compared with April's provisional 4.58 percent. The forecasts for May ranged from 4.1 percent to 5.7 percent.
May was the seventh straight month in which inflation was higher than the central bank's medium-term target of 4 percent.
The RBI revised up its inflation forecast to 4.7 percent for the second half of the fiscal year ending in March 2019, from the 4.4 percent it projected earlier.
(Reporting by Manoj Kumar; Editing by Richard Borsuk and Malini Menon)
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