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Wholesale price inflation rises to 2.61 pc in May, as against 1.26 pc in April: Govt data

The wholesale price index (WPI) based inflation was 1.26 per cent in the previous month. It was (-) 3.61 per cent in May 2023.

Edited By: Nivedita Dash @Nivedita0503 New Delhi Updated on: June 14, 2024 12:49 IST
Inflation
Image Source : FILE PHOTO Representational image

The wholesale inflation rose for the third consecutive month in May at 2.61 per cent on account of rise in prices of food articles, especially vegetables, and manufactured items. "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 Ministry of Commerce & Industry said in a statement on Friday.

As per the data, inflation in food articles rose 9.82 per cent in May, as against 7.74 per cent in April. Inflation in vegetables was 32.42 per cent in May, up from 23.60 per cent in the previous month. Onion inflation was at 58.05 per cent, while potato was 64.05 per cent. Pulses inflation rose 21.95 per cent in May.

In the fuel and power basket, inflation stood at 1.35 per cent, marginally lower than 1.38 per cent in April. In manufactured products, inflation was at 0.78 per cent, higher than (-) 0.42 per cent in April.India Tv - Wholesale inflation in May

Image Source : PTIWholesale inflation in May

The rise in May WPI is in contrast to the retail inflation data for the month. The Reserve Bank of India (RBI) mainly takes into account retail inflation while framing monetary policy. Retail inflation eased to 1 year low of 4.75 per cent in May, data released earlier this week showed. The RBI earlier this month kept the interest rate unchanged for the eighth time in a row.

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