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Wholesale inflation reached a 15-month high of 2.61% in May, due to rising prices of food items
WPI: Wholesale inflation reached a 15-month high of 2.61 percent in May due to rising prices of food items. Wholesale food inflation rose to 7.4 percent in May, up from 5.5 percent in April and 4.82 percent in May 2023.
The country's wholesale inflation rate hit a 15-month high of 2.61% in May. It was 1.26% in April. Wholesale food inflation reached 7.4 percent in May, up from 5.5 percent in April and 4.82 percent in May 2023. Wholesale prices rose 0.2 percent on a monthly basis in May.
In May, Wholesale Price Index-based inflation grew for the third consecutive month to 2.61 percent, driven by rising food costs, particularly vegetables and manufactured products. The prior month's Wholesale Price Index (WPI)-based inflation rate was 1.26 percent. It was (-) 3.61% in May 2023.
The Ministry of Commerce and Industry said in a statement on Friday, "The positive rate of inflation in May 2024 is mainly due to the increase in prices of food items, food products manufacturing, crude petroleum and natural gas, mineral oils, other manufacturing, etc."
