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).
Prime Minister Narendra Modi led Cabinet approved the launch of PM RAHAT (Road Accident Victim…
The AI Impact Summit 2026 has officially to begin at Bharat Mandapam today on the…
India defeated Pakistan in the 27th Match of Group A at the ICC Men’s T20…
Weekly Current Affairs One-Liners Current Affairs 2026 plays a very important role in competitive examinations…
India vs Pakistan in T20 internationals is always high-voltage. Over the years, some iconic partnerships…
The first-ever T20 International match between India and Pakistan remains one of the most thrilling…