India May CPI ticks up to 3.93%; food at 4.78%, RBI lifts FY27 view to 5.1%
Retail inflation rose from 3.48% in April as tomato (+48.43%), ginger (+32.49%) and silver jewellery (+155.23%) spiked. Rural CPI (4.25%) outpaced urban (3.53%); personal care surged 18.46%. RBI's higher FY27 forecast signals sustained input-cost and pricing pressure for retailers.
What happened
Ministry of Statistics and Programme Implementation · India's May CPI rose to 3.93% from 3.48%, with food inflation at 4.78%. Tomato, ginger and silver
Key facts
- CPI 3.93%
- food inflation 4.78%
- tomato 48.43%
- ginger 32.49%
- silver jewellery 155.23%
- potato -23.71%
- rural CPI 4.25%
- urban CPI 3.53%
- personal care 18.46%
- FY27 inflation 5.1%
Why this matters
Rural CPI outpacing urban (4.25% vs 3.53%) and an 18.46% personal-care surge create acquisition windows in regional value formats and D2C personal-care brands whose input-cost stress is depressing valuations.