[ad_1]
NEW DELHI: India’s wholesale inflation, a measure of what producers pay, leapt to a record high of 15.88% (year-on-year) in May compared to 15.08% in April, the highest in three-decades, official data on Tuesday showed.
The figure in May, measured by the wholesale price index (WPI), climbed the most in the current inflation series starting April 2013, staying in double digits for 14 straight months.
Sharply higher producer-end prices signal persistent pressures from a global commodity price spiral, costlier oil and choked supplies lines exacerbated by the Russia-Ukraine conflict. The continuing double-digit sprint in wholesale rates points to a larger potential of inflation being transmitted to consumers in the months ahead, analysts said.
A big chunk of the wholesale inflation was driven by food prices, data showed. The WPI Food Index accelerated to 10.89% in May 2022, compared to 8.88% in April 2022.
The over-10% increase in wholesale prices comes a day after India’s retail inflation declined modestly to 7.04% (year-on-year) in May, compared to an eight-year high of 7.8% in April, aided by a favourable base effect.
Wholesale prices were driven by “prices of mineral oils, crude petroleum and natural gas, food articles, basic metals, non-food articles, chemicals and chemical products, and food products, etc., as compared to the corresponding month of the previous year”, a data statement released by the Union ministry of commerce and industry said. Bulk prices in May 2021 stood at 13.11%.
Inflation in primary articles, and fuel and power were the key drivers of the wholesale inflation in May 2022. While primary articles inflation recorded a new high of 19.71% in May 2022, fuel and power inflation stood at 40.62% (the second-highest level in the 2011-12 series).
The key drivers of inflation in primary articles were crude oil and natural gas (at 79.5%, a seven-month high), minerals (at 33.94%, a record high), fruits and vegetables (at 32.31%, a 29-month high) and non-food articles (at 24.14%).
“The sustained pressure on wholesale inflation due to rising input costs, which is being passed on to output prices, continues unabated, and that is why despite a high base, the WPI inflation scaled to a fresh high. With this, the WPI inflation has now been in double digit for 14 consecutive months, and historically at the highest level since September 1991,” Sunil Kumar Sinha, principal economist at India Ratings and Research, said.
Consumer prices, however, continued to breach the Reserve Bank of India’s upper limit of 6% for the fifth straight month, squeezing household incomes.
Retail inflation, which has stayed above the central bank’s target of 4 (+/-2)%, averaged 6.7% in 2022-23. Some economists fear price pressures triggered by the Ukraine conflict and supply bottlenecks could trigger a return to the 1970s-era inflation and slowing growth, stoking fears of a recession.
Rising consumer prices have presented a challenge for the central bank, which has hiked rates by 90 basis points over the past 30 days to tame prices.
[ad_2]
Source link
PUBMED Abstract Padayatty S, Espey MG, Levine M Vitamin C buy cialis online from india
The small vehicles can hitchhike with a regular rocket that is going that way anyway cialis generic buy
Her medications included losartan 20 mg po q daily, carvedilol 3 comparaison viagra en ligne levitra
best nighttime medicine for allergies what is allergy medicine called generic allergy medication list
vomiting medicine name list lincocin 500mg ca
accutane cost isotretinoin oral accutane 40mg brand
amoxil 1000mg cost order amoxil 1000mg pill amoxicillin us
sleeping prescription sleeping pills online order melatonin for sale
order azithromycin online zithromax ca order azithromycin 500mg pill
order generic gabapentin 100mg cheap gabapentin tablets
order azithromycin generic order azithromycin 250mg online cheap buy cheap generic azithromycin
order lasix 100mg generic furosemide online
buy omnacortil pills for sale prednisolone canada prednisolone generic
order amoxil 250mg without prescription cheap amoxil 250mg order amoxicillin 1000mg online cheap
vibra-tabs over the counter doxycycline 100mg generic
buy generic albuterol inhalator how to get albuterol without a prescription purchase albuterol inhalator
amoxiclav online buy augmentin without prescription
cheap synthroid 150mcg cost synthroid cheap synthroid pills
levitra 10mg canada generic levitra
clomiphene price order clomiphene 100mg generic clomid without prescription
order tizanidine 2mg pills buy cheap generic zanaflex buy tizanidine without a prescription
order rybelsus online cheap buy rybelsus paypal order rybelsus 14mg generic
buy generic rybelsus over the counter order semaglutide online where can i buy rybelsus
order zithromax generic zithromax over the counter purchase zithromax for sale
omnacortil 10mg price buy omnacortil 40mg buy prednisolone 40mg pill
buy gabapentin 800mg pill buy neurontin 600mg without prescription gabapentin 100mg cost
lasix price order furosemide 100mg without prescription buy furosemide 100mg
slot game free online blackjack no download hard rock casino online
pregabalin 150mg tablet order pregabalin pills order pregabalin 75mg without prescription
buy aristocort no prescription triamcinolone cost triamcinolone 4mg oral
clarinex over the counter brand clarinex clarinex 5mg oral
order claritin generic how to get loratadine without a prescription buy claritin sale
order priligy sale buy generic priligy 30mg buy cytotec pills
order orlistat online cheap diltiazem 180mg cost diltiazem us
buy rosuvastatin online buy zetia paypal ezetimibe 10mg pill
domperidone 10mg oral buy tetracycline generic sumycin 250mg uk
order generic flexeril 15mg purchase cyclobenzaprine generic buy baclofen no prescription
buy generic inderal 10mg order generic inderal 20mg order clopidogrel pills
buy ondansetron 4mg sale spironolactone pills order aldactone online
buy dutasteride no prescription order dutasteride for sale zantac 300mg drug
buy acillin online acillin price buy amoxil tablets
cheap proscar diflucan 100mg generic buy diflucan paypal
buy cipro cheap – buy generic trimethoprim over the counter buy generic augmentin 1000mg
flagyl for sale – terramycin 250 mg without prescription buy generic zithromax
valtrex 1000mg brand – buy nateglinide generic acyclovir 800mg sale
metronidazole 400mg pill – buy amoxil cheap azithromycin 500mg sale
order ampicillin online penicillin drug buy amoxicillin online cheap
furosemide pills – order capoten generic order captopril generic
buy retrovir pill – zyloprim medication
buy quetiapine 100mg sale – luvox sale cheap eskalith sale
hydroxyzine 10mg over the counter – order atarax 10mg pill buy generic amitriptyline online
amoxicillin cost – amoxicillin brand baycip online buy
zithromax 250mg brand – order ofloxacin 400mg online purchase ciprofloxacin for sale
buy cleocin – vantin 200mg generic buy chloramphenicol generic
order ventolin 2mg without prescription – purchase advair diskus inhalator for sale brand theophylline
order clarinex online – buy albuterol 4mg generic ventolin inhalator canada
buy generic glyburide for sale – cheap pioglitazone 15mg dapagliflozin price
order glucophage online cheap – order januvia 100 mg for sale buy acarbose 25mg generic
where to buy prandin without a prescription – order jardiance 10mg for sale buy empagliflozin 10mg online cheap
buy terbinafine online cheap – buy grifulvin v sale buy generic grifulvin v over the counter