June 30, 2014 6:00 PM

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Retail inflation for industrial workers remains at 7.02 % in May

Retail inflation for industrial workers remained almost flat at 7.02 per cent in May. The Retail inflation was 7.08 per cent in April. Marginal drop in inflation was mainly due to lower price of petrol.A Labour ministry statement said that the largest upward pressure to the change in the current index came from Food group contributing 1.65 percentage points to the total change.At item level, rice, coconut oil, fish fresh, poultry, milk, onion, vegetables, fruits, sugar, cigarette, electricity charges etc. are responsible for increase in the index.However, the statement added, the upward pressure was restricted to some extent by petrol putting downward pressure on the index.According to the data, the food inflation stood at 7.66 per cent in May against 7.76 per cent in the previous month and 13.24 per cent during the corresponding month in 2013.

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