Producer inflation, technically known as the Wholesale Price Index (WPI), jumped to 4.43 per cent in May, hitting a 14-month high, largely on account of the spike in fuel prices.
The WPI was at 3.6 per cent in April this year and 2.26 per cent in May last year.
Government data released on Thursday revealed that inflation in the ‘fuel and power’ basket rose sharply in May to 11.22 per cent from 7.85 per cent in April, as prices of domestic fuel increased in line with rising global crude oil rates. Read More
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