Wholesale price inflation hits record high in May15 June 2022, 12:18 pm
India’s wholesale inflation gauged by the Wholesale Price Index, with base year as 2011-12, rose to a record high of 15.88 per cent in May 2022 from 15.08 per cent in April, official data revealed on Tuesday.
The wholesale inflation has been in double digit for over a year now.
The high rate of inflation in May is primarily due to rise in prices of mineral oils, crude petroleum and natural gas, food articles, basic metals, non-food articles, chemicals and chemical products and food products as compared to the corresponding month of the previous year, an official statement said.
The rate of inflation based on WPI Food Index increased from 8.88 per cent in April, 2022 to 10.89 per cent in May, data showed.
Provisional figures of Wholesale Price Index (WPI) are released on 14th of every month (or next working day) with a time lag of two weeks of the reference month and compiled with data received from institutional sources and selected manufacturing units across the country.