Wholesale Inflation rate in the country zoomed above 12 per cent driven by an increase in prices of crude petroleum, manufactured goods and low base effect. As per the provisional data released for the month of May by the Department for Promotion of Industry and Internal Trade of the Commerce Ministry, the annual rate of WPI inflation stood at 12.94 per cent for the month of May over the corresponding period of last year.
However, the month-on-month rate of inflation stood at 0.76 per cent. The Department has said in its report that the prices of crude oil, petroleum products and metals substantially increased last month as compared to the corresponding period in the last year. It also added that the Food Index consisting of Food Articles from Primary Articles group and Food Product from Manufactured Products group registered a decline of 0.19 last month.