Retail inflation hits one-year low at 4.75 pc

Inflation in the food basket was 8.69 per cent in May

Retail inflation eased to a one-year low of 4.75 per cent in May as prices of some kitchen items declined marginally, as per government data released on Wednesday. Consumer Price Index (CPI) based retail inflation was 4.83 per cent in Apr 2024 and 4.31 per cent in May 2023 (previous low).

Inflation in the food basket was 8.69 per cent in May, marginally down from 8.70 per cent in April. Headline inflation has seen sequential moderation since February 2024, albeit in a narrow range from 5.1 per cent in February to 4.8 per cent in April 2024.

Nifty at all-time high, Sensex climbs 150 pts

Benchmark equity indices ended higher on Wednesday, with the Nifty hitting its fresh record closing level, mainly due to buying in power, capital goods and industrial stocks amid a largely positive trend in global equities. Besides, a heavy rush on select index-heavyweight counters like HDFC Bank and Reliance Industries boosted investors' sentiment, traders said.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever