The retail inflation has shot up to 6.3% in May after itremained low till 4.3% in April, according to the latest data released by the government on Monday.
The main factors which led to the sharp increase inretail inflation are considered to be food and fuel prices. Notably, retailinflation is measured by the Consumer Price Index (CPI), and this time it hascrossed the target range of 2-6 percent set by the Reserve Bank of India forthe first time in five months.
Earlier when an eminent news agency Reuters conducted apoll to assess the retail inflation for May it suggested May that it would be 5.30%.
However, food inflation in this month rose to 5.01percent against 2.02 percent in April. Moreover, the core inflation stands at6.6 percent.
According to the experts, the second wave of Covid-19 hasseverely impacted lower and middle-income families.
Over the past few months, the price of severalcommodities including petrol and diesel, edible oil, and other FMCG productshave extremely swollen up in May.
The retail inflation in food and beverages in May stoodat 5.24% while for the fuel and light category, it remained higher than April at11.58%.