India’s May wholesale inflation rises 2.61% on year

By Thomson Reuters Jun 14, 2024 | 1:39 AM

NEW DELHI (Reuters) -India’s wholesale price-based inflation rose 2.61% in May mainly driven by food items, government data showed on Friday.

The May figures were higher than the 2.5% rise expected by economists polled by Reuters and up from a 1.26% year-on-year rise in April.

Food prices rose 7.4% on year compared with an increase of 5.52% in April, while prices of vegetables were up 32.42% on year against a 27.94% rise in the previous month.

Manufactured product prices rose 0.78% year-on-year against a 0.42% drop in the previous month. Fuel and power prices rose 1.35% compared with a 1.38% rise in April.

India’s retail inflation rate eased slightly in May to 4.75%, partly helped by a fall in fuel prices although food prices remained elevated, government data showed on Wednesday.

(Reporting by Nikunj Ohri; Editing by Janane Venkatraman)