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Retail inflation soars to 6.3%, a 6-month high
Retail inflation hit a six-month high of 6.3% in May, thanks to a persistent rise in fuel and edible oil prices, which also played a part in pushing wholesale prices to a record 12.94% inflation in the month, as per data released on Monday.
Consumers experienced an inflation of 11.58% for the ‘fuel and light’ category in May, with urban India bearing a bigger hit of 14.24% on the same account. Food inflation reheated to 5.1% from just 1.96% in April.
Overall retail prices, however, saw a sharper spurt in rural areas from 3.75% in April to 6.5% in May, while it was less pronounced in urban India at a little more than 6% from 4.7% in April, as per the National Statistical Office. At the wholesale level, fuel and power inflation nearly quadrupled to 37.6% from the 9.75% recorded in March this year, and is significantly higher than the 20.94% mark attained in April. Manufactured products’ inflation rose to 10.83% from 9% in April.