15 June 2023, Mumbai
India's retail inflation decreased to 4.25% in May, down from 4.7% in April, as per government data. The clothing and footwear sector experienced an inflation rate of 6.64% during May.
Consumer Price Index-Based Inflation
The consumer price index-based (CPI) inflation in May reached its lowest point in 25 months. The Reserve Bank of India (RBI) witnessed retail inflation within its comfort zone for the second consecutive month, remaining below 6%.
Inflation eases
The RBI's monetary policy committee slightly lowered the inflation projection for the fiscal year to 5.1%.
Industrial Production Index Surges
In April, the index of industrial production (IIP) surged to 4.2%, significantly rising from 1.1% in March, according to the National Statistical Office (NSO) data.
