Wholesale inflation rises to 2.61% in May, highest in 14 months
This was the seventh consecutive month that wholesale price inflation grew on a year-on-year basis.
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India’s Wholesale Price Index-based inflation rose to a 14-month high of 2.61% in May, according to data released by the Ministry of Commerce and Industry on Friday. This was up from a 13-month high of 1.26% in April.
“Positive rate of inflation in May is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum and natural gas, mineral oils, other manufacturing etc,” the commerce and industry ministry said.
The rate of food price inflation alone rose from 5.52% in April to 7.40% in May, the most out of any major commodity.
May was the seventh straight month that wholesale price inflation grew on a year-on-year basis after declining for seven straight months before that, reported The Hindu. On a month-on-month basis, the Wholesale Price Index was up 0.2% in May, down from a 10-month high of 0.8% in April, the newspaper reported.
The Centre’s data shows particularly high inflation in the cost of vegetables, from 23.6% in April to 32.42% in May. Onion inflation was at 58.05%, potato at 64.05% and pulses at 21.95% in May.
Meanwhile, India’s Consumer Price Index-based inflation, or retail inflation, fell from 4.83% in April to 4.75% in May, its lowest mark in a year. The rate of inflation was higher for rural consumers at 5.3% in May while...
