Representative image. Photo: Unsplash
New Delhi: Wholesale inflation in India has risen to 2.61% in May this year, up from 1.26% in April, according to commerce ministry data. This is highest it has been since February 2023.
This increase, according to the commerce ministry, was “due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc”.
Source: PIB
The data also showed that food inflation reached a ten-month high of 9.8% in May.
Bank of Baroda economist Aditi Gupta said food inflation is likely to remain elevated due to severe heatwave in the country, according to The Times of India. With severe heatwave conditions persisting in several parts of the country, prices of vegetables and fruits are witnessing an upward momentum even in June 2024 and are likely to keep inflation elevated in the near-term,” she said.
