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During May 2023, retail inflation reached a low of 4.25%, the lowest monthly level since April 2021, according to figures released by the government on Monday. Previously, the inflation  was 4.7% in April and 5.66% in March. The decrease in retail inflation during May can be attributed to a significant drop in the prices of edible oils and vegetables. Additionally, there has been a reduction in the prices of fruits and meat.

However, despite the decrease in retail inflation, the prices of cereals, milk, and spices remain high. In May, the inflation rate for cereals was 12.65%, for spices it was 17.9%, and for milk it was 8.91%. Furthermore, the prices of pulses have been consistently increasing. In February, the retail inflation rate for pulses was 4.09%, which increased to 4.33% in March, 5.28% in April, and now stands at 6.56% in May.

Speaking about inflation in different states, Bihar and Haryana recorded retail inflation rates above 6% during May. Additionally, Uttarakhand and Uttar Pradesh had inflation rates above 5%. However, there are several states where retail inflation rates have fallen below 3%, indicating a declining demand. Odisha recorded a retail inflation rate of 2.96% during May, followed by Madhya Pradesh at 2.48%, Delhi at 1.53%, and Chhattisgarh at 0.71%.