Inflation hits Indian budgets; Cooking oil, fuel see sharpest rise in prices

India's retail inflation has spiked sharply to 6.3 per cent in May after easing to 4.23 per cent in April, as per data released by the government on Monday. Retail inflation, measured by the Consumer Price Index (CPI), has jumped primarily due to higher food and fuel prices. It has breached the Reserve Bank of India's target range of 2-6 per cent for the first time in five months. Experts have expressed concern about higher inflation and the second wave of the Covid-19 pandemic, which has severely impacted lower and middle-income families. Watch the video for more.

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