Retail inflation, or the Consumer Price Index (CPI), will continue to moderate to 3.0 per cent in May, a six-year low, mainly due to the sequential moderation in prices of cereals and pulses even as most other segments started to strengthen, according to a Union Bank of India (UBI) report. As per the inflation data released by the Ministry of Statistics and Programme Implementation, retail inflation in April fell to 3.16 per cent from 3.34 per cent in March. CPI inflation is a key economic indicator that reflects the rate at which prices of goods and services consumed by households are increasing over time.