New Delhi, June 15 -- The Wholesale Price Index (WPI) based inflation in May hit an all-time high of 12.94 per cent owing to rising crude oil prices and manufactured products.
This is the fifth consecutive month when WPI breached the higher levels. Earlier it was at 10.49 per cent level in April, which was a 11-year high.
The high rate of inflation in May 2021 is primarily due to low base effect and rise in prices of crude petroleum, mineral oils i.e. petrol, diesel, naphtha and furnace oil among other things as well as manufactured products as compared to the corresponding month of the previous year, the Commerce and Industry Ministry said on Monday.
The manufactured products inflation rose to 10.8 per cent in May 2021 as compared to...