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Wholesale Price Inflation Hits Record High Of 15.88% In May

-NDTV.com

Wholesale price-based inflation rose to a record 15.88 per cent in May, it highest under the current series launched in 2012, government data showed.

Wholesale price-based inflation (WPI) rose to a record 15.88 per cent in May from a year ago, its highest in the current series launched a decade ago, government data showed on Tuesday.

That suggest despite a softer reading in May's retail price pressures data on Monday, it would be too early to call a peak in inflation.

May's wholesale price inflation figure was above the 15.08 per cent in April, and sharply higher than 13.11 per cent in May last year and marks the highest in the current series base of 2012.  

WPI has held above double digit rates for 14 straight months now and adds to worries the Reserve Bank of India would front-load rate hikes to stem soaring inflation and, in turn, that would dent the economy.

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