India's retail inflation accelerated to 3.93% in May as food and fuel prices firmed amid the escalating conflict in West Asia. However, India's retail inflation print in May stayed below the Reserve Bank of India's 4% medium-term target for the 16th straight months.
Data released on Friday showed consumer inflation rising from 3.48% in April but it stayed short of a Reuters projection of 4%. May's retail inflation print marked the highest inflation reading under India’s revamped CPI series launched in January this year with a revised consumption basket and new base year.
