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Wholesale price index for May breached the all time high level at 12.94 per cent
The wholesale price index (WPI) based inflation in May hit an all-time high of 12.94 per cent owing to rising crude oil prices and manufactured products. Overall it was the fifth consecutive month when WPI breached the higher levels.
It was at 10.49 per cent level in April.
Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent.
“The high rate of inflation in May 2021 is primarily due to low base effect and rise in prices of crude petroleum, mineral oils viz. petrol, diesel, naphtha, furnace oil etc. and manufactured products as compared to the corresponding month of the previous year,” the Commerce and Industry Ministry said.
