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WPI data: Spike in fuel and power prices drive wholesale inflation rate to five-month high at 4.43% in May

The year-on-year inflation rate, based on monthly WPI, stood at 4.43 per cent (provisional) for May, 2018. This is a hike of almost double from the previous year's inflation rate which was 2.26 per cent during the corresponding month.

Reported by: India TV Business Desk, New Delhi [ Updated: June 14, 2018 12:32 IST ]

Inflation rate almost doubles in last one year, reaches 4.43% in May' 18 vis-a-vis 2.26% in 2017

Photo:PTI

The year-on-year inflation rate, based on monthly WPI, stood at 4.43 per cent (provisional) for May, 2018. This is a hike of almost double from the previous year's inflation rate which was 2.26 per cent during the corresponding month. 

According to the government datat, the top contibuters in the inflation hike were higher fuel and power prices. It is a five-month high for WPI inflation rate. Last month WPI witnessed a pgrowth of 3.18 per cent

Wholesale inflation rate, measured by Wholesale Price Index (WPI), is a marker for price movements in bulk buys for traders and broadly mirrors trends in shop-end prices.

Primary articles, which accounts for more than a fifth of the entire wholesale price index grew 3.16 per cent in May from (-)1.71 per cent year a percent ago and 1.41 per cent in April.

Vegetables prices grew 2.51 per cent in May as compared with a fall of 0.89 per cent in April and (-)18.37 per cent a year ago.

Potato prices continued to rise for the fifth consecutive month to rise 81.93 per cent in May from 67.94 per cent in April and (-)43.84 per cent a year ago.

Prices of pulses continued to slump for over a year now, with rate of decline relatively slowing at (-)21.13 per cent in May, as compared with a de-growth of (-)22.46 per cent in April and (-)19.67 per cent a year ago.

Fuel and power inflation, which has a weightage of 13.15 per cent in WPI, grew at 11.22 per cent in May from 7.85 per cent in April, and 11.81 per cent a year ago.

Petrol prices are up 13.90 per cent in May from 9.45 in April, while diesel prices grew 17.34 per cent last month as compared to 13.01 per cent in April.

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