Inflation based on wholesale prices shot up to a 14-month high of 4.43% in May on increasing prices of petrol and diesel as well as vegetables. The Wholesale Price Index (WPI) based inflation stood at 3.18%in April and 2.26% in May 2017.
According to government data released, inflation in food articles was at 1.60% in May 2018, as against 0.87% in the preceding month. Inflation in vegetables climbed to 2.51% in May, while in the previous month it was (-)0.89%. Inflation in ‘fuel and power’ basket rose sharply to 11.22% in May from 7.85% in April as prices of domestic fuel increased in line with rising global crude oil rates.
Source- The Hindu
Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
- Piyush Goyal is the present Finance Minister of India.