India's retail inflation likely accelerated to a seven-month high in May on...
BENGALURU - India’s retail inflation likely accelerated to a seven-month high in May on rising food prices, but it is expected to remain well below the Reserve Bank of India’s target, giving it room to ease policy further, a Reuters poll found.
According to a June 4-7 Reuters poll of over 40 economists, the retail inflation rate rose to 3.01 percent in May from a year earlier, up from 2.92 percent in April. Forecasts ranged between 2.83-3.50%. “The uptick in retail inflation is because of higher vegetable prices,” said Sameer Narang, chief economist at Bank of Baroda.
The RBI also highlighted that risk last week and raised its inflation forecasts for the first half of the current fiscal year.
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