May CPI stubbornly high at 9.31%

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, June 12, 2013, 11:24 [IST]

The consumer price inflation continued to remain stubbornly high with the figure for May coming in at 9.31%.

Analysts had hoped for CPI under 9%, which would have raised the prospects of a rate cut by the RBI in its policy meet later this month.

"Provisional annual inflation rate based on all India general CPI (Combined) for May 2013 on point to point basis (May 2013 over May 2012) is 9.31% as compared to 9.39% (final) for the previous month of April 2013," a government release stated.

The corresponding provisional inflation rates for rural and urban areas for May 2013 are 8.98% and 9.65% respectively. Inflation rates (final) for rural and urban areas for April 2013 are 9.16% and 9.73% respectively.

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