According to the May inflation figures released by the Ministry of Commerce and Industry during the Corona period, wholesale inflation rose to 12.04 percent in May. In May 2020, the inflation rate was -3.37%. Inflation, as measured by the Wholesale Price Index (WPI), rose for the 5th consecutive month in May. The rate was 10.49 percent in April. The wholesale price hike issued by the government said that the rise was due to crude petroleum and mineral oils. Because it has made petrol, diesel, naphtha and manufacturing products more expensive. As a result, inflation rose sharply in May this year compared to the same period last year.
Inflation in the fuel and power sector also rose to 37.61 percent in May from 20.94 percent in April. Even manufactured producers became dearer by 10.83 percent in May. However, food inflation has eased. Food items became cheaper by 4.31 percent in May, but onion prices rose. Onion prices rose by 23.24 percent. Earlier this month, the RBI maintained interest rates unchanged and said it would not change its policy stance to accelerate growth.
