WPI inflation rises to 2.61% in May

Wholesale Price Index (WPI) of India rose to 2.61% in May 2024. This is the highest in 15 months since 3.85% in February 2023, after declining to 1.41% in March 2023. According to data released today by the Ministry of Commerce and Industry, the recent rise in WPI-based inflation is due to price increase in key sectors such as food, food manufacturing, crude oil and natural gas, petroleum, and manufacturing. The Commodity Index rose 0.54% in May 2024. Prices in the fuel and power sector rose 1.35%, slightly lower than the 1.38% increase in April. The WPI for manufactured goods rose to 0.78%, reversing a 0.42% decline in April. Food prices rose 7.4% in May compared with a 5.52% increase in April. Vegetable prices rose particularly sharply, increasing 32.42% year-on-year compared with a 27.94% increase in the previous month.

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