WPI Inflation: Wholesale Inflation Reaches New Record Level, Increases At The Rate Of 15.88 Percent In May

Posted on 14th Jun 2022 02:19 pm by rohit kumar

On the one hand, while the people of the country have gotten relief on the retail inflation front, wholesale inflation has again given a big blow. In May, the wholesale inflation rate again maintained the level above 15 percent and it reached 15.88 percent. It is worth noting that in April, it was at 15.08 percent.

 

Double digits for the 14th consecutive month

 

The biggest hand in reaching the new record level of wholesale inflation is due to the increase in the prices of commodities ranging from food. Let us inform you here that in the same period last year, the wholesale inflation rate was at 13.11 percent. Notably, wholesale inflation has remained in double digits for the 14th consecutive month since April last year. This new high of wholesale inflation is the highest in the last nine years. On the other hand, if we look at the old data, the inflation data that came out in April is the highest in April in the last 30 years.

 

Retail inflation fell so much

 

It is being told that due to cheaper food items, retail inflation came down to 7.04 percent in May. However, it has remained above the RBI's satisfactory level for the last five consecutive months. According to data released by the National Statistical Office (NSO) on Monday, the Consumer Price Index-based (CPI) inflation stood at 7.79 percent in April. Retail inflation stood at 6.3 percent in May last year.

 

Also Read: Rupee Vs Dollar: Rupee collapses against the dollar, breaks 28 paise to cross 78 for the first time

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