India’s consumer price inflation down at 4.75% in May

Consumer price inflation in India, based on the Consumer Price Index (CPI) stood at 4.75 per cent in May 2024, down from 4.83 per cent in April, provisional figures released by the National Statistics Office (NSO) showed.

The all-India consumer price inflation stood at 4.11 per cent in May 2023.

The annual rate of inflation based on the Consumer Price Index (Base 2012=100), which reached a peak of 7.44 per cent in July last year, has come down to levels below 5.00 per cent, despite volatility in commodity prices.

Inflation based on the food price index stood at 8.69 per cent in May 2024 against 8.70 per cent in April and 2.96 per cent in May 2023.

With the Reserve Bank of India continuing to hold its policy repo rate at 6.5 per cent for the eighth time in a row with its focus on taming inflation, consumer prices have remained subdued to some extent for the past few months 

Consumer price inflation for rural areas stood at 5.28 per cent in May 2024, against 5.43 per cent in April and 4.23 per cent in May 2023.

Inflation rate for urban consumers stood at 4.15 per cent in May 2024 against 4.11 per cent in April and 4.33 per cent in May 2023.

Food price inflation for rural areas was down at 8.62 per cent in May 2024 against 8.75 per cent in April. It was 3.30 in May 2023.

Food price inflation for urban areas also stood at 8.83 per cent in May 2024 against 8.56 per cent in January. It was 2.43 per cent in May 2023.