New Delhi: India’s wholesale price-based inflation rose 2.61% in May. The rise was due to increase in price of food items. May WPI data was up from a 1.26% year-on-year (YoY) and higher than the 2.5% rise expected by economists polled by Reuters.
Food prices rose 7.4% on year compared with an increase of 5.52% in April, while vegetables prices increased 32.42% YoY from 27.94% rise in the previous month. Prices of manufactured products rose 0.78% YoY as against a 0.42% drop in the previous month. Fuel and power prices rose 1.35% compared with a 1.38% rise in April.
Also Read: Stock Market: Indian equity markets end higher, Nifty hit record high
Meanwhile, Consumer Price Index (CPI) based retail inflation declined to 12-month low in May. Data released by the National Statistical Office (NSO) revealed this. As per data,CPI inflation in May 2024 eased to a 12-month low of 4.75 per cent. In the previous month of April 2024, India’s retail inflation stood at 4.83 per cent.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India are made after reviewing the CPI.
Post Your Comments