India, June 12 -- India's consumer price inflation accelerated further in May to the highest level in sixteen months amid higher food costs, the Ministry of Statistics and Programme Implementation said Friday.
The consumer price index registered an increase of 3.93 percent on a yearly basis in May, faster than the 3.48 percent rise in April. The expected inflation rate was 4.0 percent.
Nonetheless, the inflation rate remained slightly below the RBI's medium-term target of 4.0 percent.
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