New Delhi: India’s inflation based on the Wholesale Price Index (WPI) touched a new record high in May, rising to 15.88 per cent as against 15.08 per cent in April and 13.11 per cent in May 2021, according to data released.
The high rate of inflation in May is primarily due to rise in prices of mineral oils, crude petroleum and natural gas as compared to the corresponding month of the previous year, the Centre said.
The steep rise in May WPI inflation comes a day after the statistics ministry said that India’s retail inflation based on Consumer Price Index (CPI) eased to 7.04 per cent in May from April’s near-8-year high of 7.79 per cent.
The rate of inflation based on WPI Food Index increased from 8.88 per cent in April to 10.89 per cent in May, 2022. The index for the fuel and power group was 2.3 per cent higher in May compared to April, while that for manufactured products rose 0.6 per cent.
Inflation in manufactured items was 10.11 per cent in May, against 10.85 per cent in April. In the fuel and power basket, the rate of price rise was 40.62 per cent during the month as against 38,66 per cent last month