India Experiences 14-Month High Wholesale Inflation In May

This May 2024, India has recently witnessed a rise in wholesale-price-based inflation, which now stands at 2.61%, reveals government data on Friday.

This month’s figures were higher than the economists’ prediction, which anticipated only a 2.5% increase. This marks a rise from the 1.26% year-on-year increase reported in April.

Moreover, the food prices have increased to 7.4% on year against a rise of 5.52% in April. While on year, the vegetable prices increased to 32.42% compared to 27.94% increase last month.

As for manufactured products, its prices increased to 0.78% year-on-year compared to 0.42% fall last month.

The Fuel and power also witnessed an increase in prices, which marginally rose to 1.35%, against 1.38% increase in April.

But the country’s retail inflation has now steadied this may at 4.75%, which was aided by drop in fuel prices, despite increase in food prices.