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May CPI inflation cools down to 7.04% from eight-year high in April

The excise duty cuts for petrol and diesel and duty cuts on other items may have played a part in cooling inflation

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Vegetable inflation was nearly 18.3 per cent, a segment which hurts households the most. Inflation in eggs and pulses and products came down substantially, at -4.6 per cent and -0.46 per cent, respectively

Arup Roychoudhury New Delhi

4 min read Last Updated : Jun 13 2022 | 11:47 PM IST

The consumer price index-based (CPI-based) inflation rate for May 2022 cooled from the eight-year high in April and came in at 7.04 per cent on the back of the base effect and cheaper food prices.

It was still the fifth straight month of headline retail inflation being above the Monetary Policy Committee’s (of the Reserve Bank of India, or the RBI) medium-term target of 4 (+/-2) per cent, thus justifying the two recent interest rate hikes by the central bank.

According to the data released by the National Statistical Office, the CPI rate for April was 7.79 per cent. Consumer food price

Topics : Inflation Consumer Price Index-based inflation Consumer Price Index inflation Consumer Price Index Indian Economy