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14 June 2018
 |
| wholesale(The Total Investment & Insurance Solutions) |
Inflation
based on wholesale prices shot up to a 14-month high of 4.43 percent in May on
increasing prices of petrol and diesel as well as vegetables.
The Wholesale Price Index (WPI) based
inflation stood at 3.18 percent in April and 2.26 percent in May last year. The Total Investment & Insurance
Solutions
According to government data released today,
inflation in food articles was at 1.60 percent in May 2018, as against 0.87
percent in the preceding month.
Inflation in vegetables climbed to 2.51 percent in May, while in the previous
month it was (-)0.89 percent. The Total
Investment & Insurance Solutions
Inflation in 'fuel and power' basket rose
sharply to 11.22 percent in May from 7.85 percent in April as prices of
domestic fuel increased in line with rising global crude oil rates. The Total Investment & Insurance
Solutions
Potato inflation was at a peak of 81.93
percent, against 67.94 percent in April.
Price rise in fruits was in double digits at
15.40 percent, while pulses saw a deflation of 21.13 percent. The Total Investment & Insurance
Solutions
The WPI inflation for March was revised
upwards to 2.74 percent from the provisional estimate of 2.47 percent.
May inflation at 4.43 percent was a 14-month
peak. The previous high was in March 2017, when the WPI inflation stood at 5.11
percent.
In its second monetary policy review for the
fiscal, the Reserve Bank earlier this month hiked interest rate by 0.25
percent-- the first hike in more than four years -- due to growing concerns
about inflation stoked by rising global crude oil prices as well as domestic
price increases.
The price of Indian basket of crude surged
from USD 66 a barrel in April to around USD 74 currently. The Total Investment & Insurance
Solutions
Data released earlier this week showed retail
inflation jumped to a 4-month high of 4.87 percent in May on costlier food
items such as fruits, vegetables and fuel. RBI mainly takes into account retail
inflation data while formulating monetary policy.The Total Investment & Insurance Solutions
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