The wholesale value index (WPI) primarily based inflation in May hit an all-time excessive of 12.94 per cent owing to rising crude oil costs and manufactured merchandise. Overall it was the fifth consecutive month when WPI breached the upper ranges.
It was at 10.49 per cent degree in April.
Low base impact additionally contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent.
“The high rate of inflation in May 2021 is primarily due to 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,” the Commerce and Industry Ministry stated.
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