Wholesale inflation hits 14-month high at 4.43 pct in May

New Delhi [India], June 14 (ANI): India's wholesale inflation witnessed a 14-month high as it grew 4.43 percent in May. Driven by some food items and fuel prices, the latest price data released by the commerce and industry ministry showed the Wholesale Price Index (WPI), which is a marker for price movements in bulk buys, a growth of 3.18 percent in April and 2.26 percent in May 2017. Index for primary articles that account for more than a fifth of the entire wholesale price index grew 3.16 percent in May from (-)1.71 percent year a percent ago and 1.41 percent in April. Vegetables prices grew 2.51 percent in May as compared with a fall of 0.89 percent in April and (-) 18.37 percent a year ago. Potato prices continued to rise for the fifth consecutive month to rise 81.93 percent in May from 67.94 percent in April and (-) 43.84 percent a year ago. Prices of pulses continued to slump for over a year now, with rate of decline relatively slowing at (-) 21.13 percent in May, as compared with a de-growth of (-) 22.46 percent in April and (-) 19.67 percent a year ago. Fuel and power inflation, which has a weightage of 13.15 percent in WPI, grew at 11.22 percent in May from 7.85 percent in April, and 11.81 percent a year ago. Petrol prices are up 13.90 percent in May from 9.45 in April, while diesel prices grew 17.34 percent last month as compared to 13.01 percent in April. (ANI)
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