Image Source : PTI (FILE) WPI inflation rises to record high of 15.88% in May Wholesale Price Index (WPI)-based inflation shot up to a record high of 15.88 per cent in May from 15.08 per cent in April, according to government data released on Tuesday. Rising prices of food items and crude oil pushed the WPI inflation to a new high in May despite the government resorting to calibrated efforts to check the prices. This is the 14th month of double-digit inflation. In the corresponding month last year, the WPI inflation was 13.11 per cent. The WPI-based inflation at 15.88 per cent is the highest print on record in the current (2011-12) series, according to a PTI report. Considering the old series as well, the last time WPI inflation was higher than this was in August 1991, when it was at 16.06 per cent. “The high rate of inflation in May 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, food articles, basic metals, non-food articles, chemicals & chemical products and food products etc. as compared to the corresponding month of the previous year,” the Commerce and Industry Ministry said in a statement. Latest Business News
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