WPI inflation rises to record high of 15.88% in May

Wholesale price-based inflation (WPI) hit a fresh record high of 15.88% in May, escalating from 15.0

Wholesale price-based inflation (WPI) hit a fresh record high of 15.88% in May, escalating from 15.08% in April, as per the official data.

“The high rate of inflation in May is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, food articles, basic metals, non-food articles, chemicals & chemical products and food products compared to the previous year,” the Commerce and Industry Ministry said. May 2021 had recorded an inflation rate of 13.11%.

Fuel and power inflation accelerated further to 40.62% in May from 31.8% in March and 38.7% in April.

The Wholesale Price Index for this March was also revised upwards, reflecting an inflation rate of 14.63% instead of the 14.5% earlier estimated.

The Wholesale Food Price Inflation, which had eased marginally in April to 8.9% from 9.3% in March, resurged to hit 10.9% in May.

Inflation in primary articles also gained momentum, rising from 15.45% in April to 19.71% in May.

The only category of items to see a slight dip in inflation was Manufactured products, where the wholesale price rise pace was 10.11% in May compared to 10.85% in April.