The wholesale Price Index breaks all record of the last 14 month and stood up at 4.43% on May this year due to increase in prices of petrol and diesel. Inflation of daily used vegetables rose to 2.51% while in case of fruits, the inflation was calculated in the double-digit figure of 15.40%.
The wholesale inflation of the month of April stood up at 3.18% while it was just 2.26% during the month of May last year. The government related to the wholesale inflation was released today according to which inflation rose to 1.60% for the food articles in May 2018 compared to 0.87% last month.
For the fuel and power, inflation stood up at 11.22% in May as against 7.85% in April as the consequence of increased price of domestic fuel with the rise in global crude oil rates.
Inflation in potato was at a peak of 81.93% in May compared to 67.94% in April while pulses show the deflation of 21.13%.
The last hike was in March 2017 when the inflation crossed all the boundaries and stood at 5.11%.
Earlier on the starting of this month, Reserve Bank of India increased the interest rate by 0.25% after the period of 4 years followed by the rising global crude oil prices. Currently, the Indian basket of crude increased from USD 66 a barrel in April to USD 74.