India's May wholesale inflation doubles year-on-year to 4.43%

Earlier this week official data showed retail inflation in May had touched 4.87 per cent.

Indo-Asian News Service
New Delhi, Publish Date: Jun 14 2018 2:07PM | Updated Date: Jun 14 2018 2:07PM
India's May wholesale inflation doubles year-on-year to 4.43%Representational Image

A major spurt in food and fuel prices in the country pushed the wholesale price index (WPI) for May to 4.43 per cent, to nearly double over the 2.26 per cent registered in May last year and higher than the 3.18 per cent recorded in April, 2018, Commerce Ministry data showed on Thursday.

Earlier this week official data showed retail inflation in May had touched 4.87 per cent.

Citing inflation risks mainly from rising global crude prices, the Reserve Bank of India (RBI) earlier this month raised its key lending rate by 25 basis points to 6.25 per cent for the first time in over four years.

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