Retail inflation dips to 7.04% in May

Author: Nishu June 13, 2022

Retail inflation dips to 7.04% in May

Food price inflation, which peaked at 8.31% in April, eased slightly to 7.97% in May

Food price inflation, which peaked at 8.31% in April, eased slightly to 7.97% in May

India’s retail inflation eased marginally to 7.04% in May from 7.79% in April, reflecting a more than 6% continuous rise in prices paid by consumers for the fifth consecutive month.

Inflation faced by rural consumers fell from 8.38% in April to 7.01% in May, but for homes in urban areas, the pace of price increases was almost flat month-on-month, rising from 7.09% in April to May increased to 7.08%.

Food price inflation, which peaked at 8.31% in April, eased slightly to 7.97% in May, thanks to a reduction in rural food inflation from 8.5 per cent to 7.76%. However, the Consumer Food Price Index for urban India rose from 8.09% in April to 8.2% in May.

On a month-on-month basis, the Consumer Price Index was up 0.94% in May compared to April, while the Consumer Food Price Index (CFPI) rose 1.59%. Within the CFPI, the rural food price index rose by 1.34 per cent and urban prices by 1.84 per cent.

Fuel and light inflation eased slightly from 10.8% in April to 9.54% in May and inflation in transport and communication also declined to 9.54% in April from around 11%.

Growth in prices of clothing and footwear also hit a high of 8.85%, just one percentage point lower than May’s rate of 9.85%. Inflation in footwear prices remained in double digits at 10.72% (compared to 12.12% in April), while clothing inflation fell from 9.51% in April to 8.53% in May.

Inflation in household goods and services as well as miscellaneous goods, which indicated that price growth pressures had broadened and normalized in April, moderated marginally in May from 7.97% to 6.85% and 8.03% to 6.82%, respectively .

While inflation in food and beverages moderated to 7.84% in May from 8.1% in April, three sub-categories of food items registered a further increase – vegetables, meat and fish, and milk products. Inflation in vegetables rose to 18.26 per cent in May from 15.41 per cent in April, while that of meat and fish rose to 8.23 ​​per cent from 6.97 per cent. The pace of increase in the prices of milk and related products was 5.64% in May from 5.47% in April.

Six other sub-groups of food and beverages registered a deceleration in price growth led by edible oils and fats (17.28% in April from 13.26% in May), while pulses and eggs declined by 0.42% and 4.64%. Inflation was recorded. in May, compared to 0% and 1.86% in April, respectively.

13 June, 2022, 6:09 pm

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