India’s wholesale prices accelerate to 15-month high of 2.61% in May
inflation in India, measured using the Wholesale Price Index, quickened to a 15-month high of 2.61 per cent on an annual basis in the month of May as against 1.26 per cent in April 2023, government data showed on Friday.
WPI quickened considerably to 7.4 per cent in May from 5.5 per cent in April and 4.82 per cent in May 2023.
Primary articles inflation quickened to 7.2 per cent in May from 5.01 per cent in April.
Fuel and power inflation stayed muted at around 1.4 per cent in May.
Manufactured products' inflation rate rose to 0.8 per cent in May after it contracted 0.4 per cent in April.
Food inflation:
Rate of inflation in the food articles index stood at 9.82 per cent in May, up from 1.63 per cent in the same month a year ago.
Wholesale vegetable prices increased 32.42 per cent in May 2024, after it contracted 20.5 per cent in the same month a year ago. Pulses' prices increased 22 per cent, higher than the 5.8 per cent figure seen a year ago.
Inflation in wholesale potato prices in May was 64 per cent after it contracted 18.1 per cent last year.
Inflation in wholesale onion prices accelerated to 58 per cent in May 2024, up from a contraction of 7.25 per cent in May last year.
A Reuters poll showed that WPI inflation for April was expected at 2.5 per cent.
The positive rate of inflation in May, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc, the press release said.
WPI had decreased by 3.48
