India's retail inflation hits record low of 2.18% in May
India's retail inflation in May cooled to a record low of 2.18% from 2.99% in April, according to government data. May's inflation level is the lowest since India began measuring consumer price inflation in 2012, and remains well below RBI's 4% target for the seventh straight month. The drop was due to lower prices of pulses, cereals, and perishable goods.