Inflation broke the record of 15 months, hit twice in May - Newztezz - Latest News Today, Breaking News, Top News Headlines, Latest Sports News


Friday, June 14, 2024

Inflation broke the record of 15 months, hit twice in May

The level of wholesale inflation is increasing in the country. It is possible that its effect will be visible on retail inflation in the coming days. The wholesale inflation figures for May have come out and it has almost doubled to a 15-month high.

New figures of inflation (WPI Inflation) based on wholesale market prices have come out. It has more than doubled in the month of May as compared to April and has reached a 15-month high overall. In the coming time, it is possible that the effect of wholesale inflation will be visible to the common people and retail market of the country, then it will have to be seen what decision RBI takes in this regard.

In the month of May, the rate of wholesale inflation in the country was 2.61 percent. This is almost twice more than the 1.26 percent of April. Whereas in May last year, the wholesale inflation rate of the country was less than zero i.e. negative. It was -3.61%.

Expensive vegetables robbed your pocket

The most expensive vegetable prices robbed the common man's pocket. A tremendous increase was seen in the wholesale price of vegetables including potatoes and onions. The inflation rate of vegetables was 32.42% in the month of May. This figure was 23.60 percent in April. The inflation rate of onion was 58.05 percent in May and the inflation rate of potato was 64.05 percent.

The Ministry of Commerce and Industry released the WPI inflation data for May on Friday. Food inflation data has also been revealed in this. According to the data, the inflation rate of food items in May was 9.82 percent, while it was 7.74 percent in April. The highest inflation has been seen in the prices of pulses. The inflation rate of pulses was 21.95 percent in May.

From fuel to electricity, everything is expensive

In the month of May, everything from fuel i.e. petrol-diesel to expensive electricity has affected the pocket of the common man. Inflation rate in the fuel and electricity sector was 1.35 percent in May. Apart from this, the inflation rate in the category of manufactured products was 0.78 percent.

The important thing to understand is that the wholesale inflation figures in May are contrary to the retail inflation figures of the same month. In May, the retail inflation rate came down to 4.75 percent, which is the lowest level in a year. The Reserve Bank of India (RBI) mainly keeps retail inflation in mind while formulating its monetary policy.

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