India’s wholesale price inflation climbs to 15.88% in May
20 Jun 2022
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The annual rate of inflation based on the wholesale price index (WP) stood at 15.88 per cent of May 2022 against 13.11 per cent in May 2021, provisional figures released by the commerce ministry showed.
The high rate of inflation in May has been due primarily to the rise in prices of mineral oils, crude petroleum and natural gas, food articles, basic metals, non-food articles, chemicals and chemical products and food products etc compared to the corresponding month of the previous year.
Inflation rate for the `primary articles’ group, which has a weight of 22.62 per cent in the wholesale price index, increased by 2.80 per cent (provisional) in May due to higher prices of crude petroleum and natural gas, food articles, minerals and non-food articles.
Inflation rate for the `fuel and power’ group (weight of 13.15 per cent in WPI) increased by 2.25 per cent (provisional) in May 2022 due to increases in the prices of mineral oils. Prices of coal and electricity, however, remained unchanged.
Inflation rate for the `manufactured products’ group (weight of 64.23 per cent), increased by 0.56 per cent in May 2022. Out of the groups for manufactured products, 19 groups have witnessed increase in prices while 3 groups have witnessed decrease in prices. The increase in prices was mainly contributed by chemicals and chemical products, food products, textiles, machinery and equipment, and electrical equipment. Some of the groups that have witnessed decrease in prices are basic metals, computer, electronic and optical products, other manufacturing.
The WPI `Food Index’ (weight of 24.38 per cent in WPI) consisting of 'food articles' from the `primary articles’ group and 'food products' from the `manufactured products’ increased to 10.89 per cent in May 2022 from 8.88 per cent in April 2022.
The final inflation rate for March 2022 (Base Year: 2011-12=100), based on the final wholesale price index and inflation rate for 'all commodities' stood at 14.63 per cent.
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