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Retail inflation accelerates to 4.87 percent in May

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India's retail inflation rate accelerated to a four-month high of 4.87 percent in May, government data showed on Tuesday, driven by higher fuel prices and a depreciating rupee.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 Reserve Bank of India (RBI) last week raised its benchmark ...

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First Published: Tue, June 12 2018. 17:50 IST