Inflation seen within RBI comfort level in May

India's annual consumer price inflation (CPI, or retail inflation) slowed for the third straight month in May to 9.31 per cent, government data showed on Wednesday.

Consumer prices rose an annual 9.39 per cent in April.

Food prices for consumers rose an annual 10.65 per cent in May, slightly faster than an annual rise of 10.61 per cent in April.

Unlike most central banks, the Reserve Bank of India mainly uses the wholesale price index (WPI) for setting up its monetary policy.