India's WPI inflation zooms to record high of 15.88% in May

“The high rate of inflation in May 2022 is primarily due to rise in prices of mineral oils, crude petroleum and natural gas, food articles, basic metals, non-food articles, chemicals and chemical products, food products, etc as compared to the corresponding month of the previous year,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of May 2022 increased to 154.0 from previous month’s 151.9.

The index for manufactured products (weight 64.23 per cent) for May 2022 increased to 144.80 from 144.0 for the month of April 2022. The index for ‘Manufacture of Textiles’ sub-group increased to 147.60 from previous month’s 145.40, while the index for ‘Manufacture of Wearing Apparel’ rose to 146.60 from previous month’s 145.90.

The index for primary articles (weight 22.62 per cent) also rose to 179.8 in May 2022 from previous month’s 174.90. On the other hand, the index for fuel and power (weight 13.15 per cent) increased to 154.4 from 151.0 in April 2022.

Meanwhile, the all-India inflation rate for consumer price index (CPI) on base 2012=100 stood at 7.04 (provisional) in May 2022 compared to 7.79 (final) in April 2022 and 6.30 in May 2021, according to the National Statistics Office, under the ministry of statistics and programme implementation.

Fibre2Fashion News Desk (RKS)