India’s retail inflation hit a four-month high after jumping to 4.87% in May from April’s 4.58%

India’s retail inflation hit a four-month high after jumping to 4.87 percent in May from April’s 4.58 percent. This is the seventh straight month that inflation has breached the RBI's comfort zone - its mid-term target of capping it at 4 per cent. This surge in inflation rate is driven by costlier food and fuel. As per the data of the Central Statistics Office, food inflation rose to 3.10 per cent last month, as against 2.8 per cent in April. The spike in inflation also came on back of fuel prices after global oil prices hit a 3 year high last month.