May’s Retail Price Index up on April & annual inflation 3.12%

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May's Retail Price Index up on April, annual inflation 3.12%In May, the Retail Price Index went up by 0.86 per cent. This primarily reflected an increase of 2.33 per cent in the Clothing and Footwear Index, mainly due to seasonally higher prices of garments. Higher prices of fruit caused the Food Index to go up by 1.31 per cent. An increase of 1.18 per cent was registered in the Other Goods and Services Index, mainly on account of a rise in jewellery prices. Costlier cars underlay an upward movement of 1.05 per cent in the Transport and Communication Index. Higher prices of furniture and textile articles caused the Household Equipment and House Maintenance Cost Index to go up by 0.81 per cent. The Water, Electricity, Gas and Fuels Index increased by 0.33 per cent, mainly due to higher gas prices. A rise of 0.25 per cent was recorded in the Housing Index, mainly on account of higher rents. The Beverages and Tobacco Index edged up by 0.19 per cent, mainly as a result of an increase in the prices of non-alcoholic beverages.

The Recreation and Culture Index went down by 0.16 per cent, mainly due to lower prices of computers.

In May, the twelve-month moving average rate of inflation stood at 2.25 per cent, whereas the annual rate stood at 3.12 per cent.

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