India May CPI jumps to 3.93% as food inflation reaccelerates to 4.78%
Headline retail inflation climbed from 3.48% in April, with food prices the key driver. Core CPI ticked up to 3.80% and restaurants/accommodation hit 5.8%, signaling sticky services pricing. Rural inflation (4.25%) outpaced urban (3.53%), pressuring discretionary retail wallets.
What happened
India CPI · India's May retail inflation rose to 3.93% from 3.48%, driven by food inflation accelerating to 4.78%. Core CPI climbed to 3.8%;
Key facts
- CPI 3.93% May
- CPI 3.48% April
- food inflation 4.78%
- core CPI 3.80%
- rural 4.25%
- urban 3.53%
- restaurants/accommodation 5.8%
- clothing/footwear 2.98%
Why this matters
Widening rural-urban inflation gap and food-led pressure create an opening to scout distressed regional grocery and value-format targets where like-for-like footfall is softening.