[ad_1]
Food prices rose 1.14% over April levels. Image used for representative purpose only.
| Photo Credit: K. Murali Kumar
Inflation in India’s wholesale prices accelerated to a 15-month high of 2.61% in May from 1.26% in April, thanks to an 7%-plus uptick in primary articles and food prices from about 5% in April, and a resurgence of price rise in manufactured products after several months of deflation.
May was the seventh month in a row that the WPI rose on a year-on-year basis, after seven consecutive months of decline.
On a month-on-month basis, the Wholesale Price Index was up 0.2% in May, easing from a ten-month high of 0.8% a month earlier, with food prices rising 1.14% over April levels and manufactured products’ prices up 0.64%.
“Positive rate of inflation in May is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing, etc,” the Commerce and Industry Ministry said.
[ad_2]
Source link
