Consumer inflation rises to 3.05% in May, highest in 7 months

Consumer inflation rises to 3.05% in May, highest in 7 months

Consumer inflation picked up to 3.05 per cent in May, from 2.99 per cent in the previous month, government data showed on Wednesday. That marked the highest level of consumer inflation - determined by Consumer Price Index (CPI) - since October 2018 when it came in at 3.38 per cent. More than 40 economists in a poll conducted during June 4-7 by news agency Reuters had expected retail inflation at 3.01 per cent in May. Forecast ranged between 2.83 per cent and 3.50 per cent.

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