May Inflation Likely 3%: Poll

A sharp correction in food prices, especially vegetables, has pulled inflation down in recent months

- Nandita Venkatesan & Pragya Srivastava

India's retail inflation likely eased further to 3% in May from 3.2% in April, driven by softening food prices, particularly cereals and pulses, and aided by a favourable base effect, according to a Mint poll of 15 economists.

If the projections hold, this would mark the lowest inflation print in six years and the longest streak of continuous easing in at least five years. Official data is due today.