India’s retail inflation spikes to 6.30% in May: Govt data

India CPI Inflation Rate May 2021: India’s retail inflation surged to 6.30 per cent in the month of May, over and above the Reserve Bank of India’s (RBI) threshold of 6 per cent, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed Monday. The retail inflation, which is measured by the Consumer Price Index (CPI), for the month of April was revised to 4.23 per cent from 4.29 per cent.
This is the first time in six months that the CPI data has come over the Reserve Bank of India’s (RBI) upper margin of 6 per cent. Prior to this, the CPI came below the 6 per cent mark for five consecutive months. The government has asked the central bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for a five-year period ending March 2026.