FX.co ★ India’s CPI Inflation Ticks Up to 3.93% in May, Ending Two-Month Cooling Trend

India’s consumer price inflation edged higher in May, with the CPI rising 3.93% year-over-year, up from 3.48% in April 2026, according to data updated on 12 June 2026. The figures are measured on a year-over-year basis, comparing each month to the same month a year earlier.

The move marks a reversal from the previous month’s softer reading, signaling a modest re-acceleration in price pressures after April’s lower print. While detailed category breakdowns were not provided, the uptick suggests that disinflationary momentum may be slowing, an important consideration for markets and policymakers monitoring India’s inflation path.

Both the April and May readings reflect annual changes against their respective months a year ago, underscoring that May’s higher 3.93% rate represents a genuine increase in year-over-year price growth rather than a base-effect anomaly between consecutive months.