Wholesale inflation hits record high of 12.94% in May

The wholesale price-based inflation has hit a record high of 12.94 per cent in May due to costlier fuel and a low base effect.

The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April 2021, WPI inflation hit double-digit at 10.49 per cent. "The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May 2021 (over May 2020) as compared to (-) 3.37 per cent in May 2020.