Consumer Inflation Picks Up To 3.05% In May, Highest In 7 Months

Consumer inflation picked up to 3.05 per cent in May, from 2.99 per cent in the previous month, government data showed on Wednesday. That marked the highest level of consumer inflation - determined by Consumer Price Index (CPI) - since October 2018 when it came in at 3.38 per cent. Wednesday's data still meant inflation stood well below the central bank's medium-term target of 4 per cent for a tenth month in a row, fuelling hopes of ...