WPI inflation increased to 2.61 percent in May, primarily due to increase in prices of food articles, manufacturing of food products, crude petroleum and natural gas, mineral oils, and other manufacturing.
India’s wholesale price index (WPI)-based inflation accelerated for the third consecutive month to 2.61 percent in May, primarily due to increase in prices of food articles, manufacturing of food products, crude petroleum and natural gas, mineral oils, and other manufacturing, said the provisional data released by the Ministry of Commerce & Industry. In April, WPi inflation was at 1.26 per cent on increase in prices of food articles, electricity, crude petroleum & natural gas, manufacture of food products, other manufacturing, etc.
“Positive rate of inflation in May, 2024 is primarily due toincreasein prices offood articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc,” the Ministry of Commerce & Industry said in a statement.
The month over month change in WPI index for the month of May 2024 stood at 0.20 per cent as compared to April 2024. The rate of inflation based on WPI Food Index increased from 5.52 per cent in April 2024 to 7.40 per cent in May 2024, the data showed.
Inflation for food articles, according to the release, stood at 9.82 per cent in May as against 7.74 per cent in April. For the primary articles, the inflation rate came in at 7.20 per cent from 5.01 in April. The fuel and power inflation was at 1.35 per cent in May as compared to 1.38 per cent in April. Further, manufactured products inflation stood at 0.78 per cent.
Now in food articles, inflation in vegetables was recorded at 32.42 per cent in May. Wheat inflation during the month of May was at 6.00 in comparison to 5.69 per cent in April, while pulses was at 21.95 per cent and cereals at 9.01 per cent. Milk inflation stood at 3.61 per cent in May, down from 4.30 per cent in April. Eggs, Meat & Fish inflation came in at 0.68 per cent in May. Potato and onion reported inflation at 64.05 per cent and 58.05 per cent respectively.
The non-food articles reported wholesale inflation at -3.99 per cent. Crude Petroleum & Natural gas reported wholesale inflation for the month of May at 9.80 per cent from 4.97 per cent in April and crude petroleum was at 11.07 per cent.
Source:financialexpress.com