- Wholesale price-based inflation (WPI) rose for the second straight month in May to touch 0.79 percent as vegetable prices witnessed double-digit growth. WPI-inflation stood at 0.34 percent in April and (-)0.45 percent in March.
- Food inflation rose to 7.88 percent in May as against 4.23 percent in April. Inflation in vegetables came in at 12.94 percent, a sharp rise from 2.21 percent a month earlier.
- The hardening of WPI food inflation follows the trend of retail inflation which touched a 21-month high of 5.76 percent in May mainly due to rising prices of food items. This could further dent the chances of a interest rate cut by Reserve Bank in its policy review in the months ahead.
(With PTI Inputs)
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