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

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

New Delhi: A major spurt in food and fuel prices in the country pushed the wholesale price index (WPI) for May to 4.43 per cent.

The WPI has nearly double over the 2.26 per cent registered in May last year which remained 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.

–IANS

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