New Delhi: Wholesale inflation rose for the third consecutive month to 2.61 percent in May due to rise in prices of food items, especially vegetables, and manufactured goods.
Last month, Wholesale Price Index (WPI) based inflation was 1.26 percent. In May 2023 it was (-)3.61 percent.
"The positive rate of inflation in May, 2024 is mainly due to increase in prices of food articles, manufacturing of food products, crude petroleum and natural gas, mineral oils, other manufacturing etc.," the Commerce and Industry Ministry said in a statement. " Friday.
According to the data, the inflation rate of food items increased by 9.82 percent in May, while it was 7.74 percent in April.
The inflation rate of vegetables was 32.42 percent in May, which was 23.60 percent in the previous month. The inflation rate of onion was 58.05 percent, while the inflation rate of potato was 64.05 percent. Inflation rate of pulses increased by 21.95 percent in May.
Inflation in the fuel and power basket stood at 1.35 percent, marginally lower than 1.38 percent in April.
Inflation in manufactured products stood at 0.78 per cent, higher than (-) 0.42 per cent in April.
The rise in May WPI is in contrast to this month's retail inflation data. The Reserve Bank of India (RBI) mainly takes into account retail inflation while formulating monetary policy.
Data released earlier this week showed retail inflation fell to a one-year low of 4.75 percent in May.
RBI kept the interest rates unchanged for the eighth consecutive time earlier this month.
Last month, Wholesale Price Index (WPI) based inflation was 1.26 percent. In May 2023 it was (-)3.61 percent.
"The positive rate of inflation in May, 2024 is mainly due to increase in prices of food articles, manufacturing of food products, crude petroleum and natural gas, mineral oils, other manufacturing etc.," the Commerce and Industry Ministry said in a statement. " Friday.
According to the data, the inflation rate of food items increased by 9.82 percent in May, while it was 7.74 percent in April.
The inflation rate of vegetables was 32.42 percent in May, which was 23.60 percent in the previous month. The inflation rate of onion was 58.05 percent, while the inflation rate of potato was 64.05 percent. Inflation rate of pulses increased by 21.95 percent in May.
Inflation in the fuel and power basket stood at 1.35 percent, marginally lower than 1.38 percent in April.
Inflation in manufactured products stood at 0.78 per cent, higher than (-) 0.42 per cent in April.
The rise in May WPI is in contrast to this month's retail inflation data. The Reserve Bank of India (RBI) mainly takes into account retail inflation while formulating monetary policy.
Data released earlier this week showed retail inflation fell to a one-year low of 4.75 percent in May.
RBI kept the interest rates unchanged for the eighth consecutive time earlier this month.
