Current Affairs   »   Wholesale inflation hits record high of...

Wholesale inflation hits record high of 12.94% in May

Wholesale inflation hits record high of 12.94% in May_50.1

The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. The low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. In April 2021, WPI inflation hit double-digit at 10.49 per cent. The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May 2021 (over May 2020) as compared to (-) 3.37 per cent in May 2020.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

The high rate of inflation in May 2021 is primarily due to the low base effect and rise in prices of crude petroleum, mineral oils viz. petrol, diesel, naphtha, furnace oil etc. and manufactured products as compared to the corresponding month of the previous year. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation.

Published by:

The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing index numbers of Wholesale Price in India (Base Year: 2011-12) for the month of May 2021 (Provisional).

Find More News on Economy Here

Wholesale inflation hits record high of 12.94% in May_60.1

Wholesale inflation hits record high of 12.94% in May_70.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *