NEW DELHI (Reuters) -India’s annual retail inflation slowed to 2.82% in May from 3.16% in May on the back of a slower rise in food prices, government data showed on Thursday.
The inflation print was below economists’ estimate of 3% in a Reuters poll.
Inflation in food prices – which accounts for nearly half of the consumption basket – eased to 0.99% in May from 1.78% in the previous month. Vegetable prices fell 13.7% year-on-year, compared to a 11% fall in April.
Prices of cereals rose 4.77% against a 5.35% increase in April, while those of pulses declined 8.22% compared to a 5.23% fall last month.
(Reporting by Sarita Chaganti Singh, Manoj Kumar; Editing by Mrigank Dhaniwala)
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