Wholesale Inflation Rises To 2.61 pc In May: Read Details

??This is a rise from April's inflation rate of 1.26 per cent, and March's rate of 0.53 per cent.
wpi, wpi inflation, wpi inflation may, wpi inflation may 2024, wpi inflation india, wpi inflation 2024

Wholesale Inflation Rises To 2.61 pc In May (Image Source: iStock)

Wholesale inflation in India increased to 2.61 per cent in May, driven primarily by higher prices of food items, manufacturing of food products, crude petroleum and natural gas, mineral oils, and other manufacturing goods.

WPI Inflation In April And March

This is a rise from April's inflation rate of 1.26 per cent, and March's rate of 0.53 per cent.

Month-Over-Month Change In WPI

According to the Ministry of Commerce & Industry, the month-over-month change in the Wholesale Price Index (WPI) stood at 0.20 per cent compared to April.

WPI Food Index

The WPI Food Index, which includes food articles like cereals, paddy, wheat, pulses, vegetables, potatoes, onions, fruits, milk, eggs, meat, and fish, increased to 185.7 in May from 183.6 in April.

WPI Inflation For Food Index

The inflation rate for this group jumped from 5.52 per cent in April to 7.40 per cent in May.
Primary Articles Index
The primary articles index, which tracks essential goods, rose by 0.54 per cent to 187.7 in May from 186.7 in April.
WPI Inflation For Primary Articles Index
Within this category, food articles and minerals saw price increases of 1.48 per cent and 1.08 per cent, respectively.
WPI Inflation For Non-Food Articles
However, prices for non-food articles and crude petroleum and natural gas declined by 1.26 per cent and 3.56 per cent, respectively.
Fuel And Power Index
The fuel and power index experienced a decline of 2.71 per cent to 150.6 in May from 154.8 in April.
Mineral Oils And Coal Inflation
While prices for mineral oils and coal remained steady, electricity prices dropped significantly by 11.67 per cent.
Manufactured Products
For manufactured products, the index rose by 0.64 per cent to 141.7 in May from 140.8 in April.
Expert Insights
Supported by negative inflation in the Non-Food Articles (-3.9 per cent) the WPI inflation remains benign at 2.6 per cent in May 2024. Despite the global headwinds the WPI Inflation trajectory in Fuel and Power also remains low at 1.3 per cent in May 2024. However, the WPI inflation in food articles at 9.8 per cent in May 2024 as compared with 7.7 per cent in April 2024 still poses a challenge, said Mr. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry. Going ahead, inflation in the food articles is expected to rationalize by September/October 2024 as many of the kharif crops will be entering the mandis and supplementing the existing supply on the back of government strengthening the supply chains and expectation of above normal southwest monsoon, said Mr. Sanjeev Agrawal.
End of Article
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