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).
Global banking remains the largest and most influential industry worldwide, with the combined brand value…
Cheetah population in India has reached 53 after Namibian cheetah Jwala gave birth to five…
Tactical ballistic missiles are designed for battlefield strikes against high-value targets such as airbases, radar…
Ballistic missiles are among the most powerful strategic weapons used by countries for deterrence and…
Cruise missiles play an important role in modern warfare because they can strike targets with…
CISF Raising Day 2026 is observed across the India on March 10. This day observe…