indias annual inflation rate fell for the fourth month in a row in may to its lowest rate in more than two years reaching further into the central banks target range consumer prices rose 425 in may compared with the same month a year earlier a 25month low and down from a 470 onyear increase recorded in april according to government preliminary data published monday the reading was slightly above consensus forecast of 42 from economists polled by factset meeting the central banks target of 2 to 6 food and beverages priceswhich make up the bulk of the consumer price indexincreased 329 in may easing from aprils 422 onyear rise clothingandfootwear inflation was 664 in may while for fuel and light it was 464 with both measures cooling from april according to the data the news provides further relief for indias central bank which last week kept its benchmark interest rate at 650