Inflation hits 7-month high in May; experts hope for rate cut

Inflation hits 7-month high in May; experts hope for rate cut

New Delhi: India’s retail inflation rate hit a seven-month high in May due to higher food prices, government data showed on Wednesday, but stayed below the central bank’s target and potentially gives it room for more interest rate cuts to help a sluggish economy. Annual retail inflation in May was 3.05 per cent, up from the revised 2.99 per cent in the previous month, and above forecasts by analysts.

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