New Delhi, June 12 || The softening of CPI inflation would provide a substantial boost to households and businesses, industry chamber PHDCCI said on Thursday.
The retail inflation for May has softened to 2.82 per cent, marking a notable reduction of 34 basis points compared to April (3.16 per cent).
“This is the lowest year-on-year inflation recorded since February 2019 and gives further boost to consumer and industry sentiments,” said Hemant Jain, President of PHDCCI.
The year-on-year inflation rate, based on the All-India Consumer Food Price Index (CFPI), for the month of May compared to May 2024 is 0.99 per cent (provisional), which is the lowest since October 2021.
“This marked softening of headline and food inflation during May 2025 is mainly attributed to the decline in prices of pulses and products, vegetables, fruits, cereals and products, household goods, services, sugar and confectionery, and eggs,” Jain added.