Economic Buzz: Wholesale Prices Spurt, Fule Inflation Steepens

Pressure on domestic wholesale price steepened. Indias wholesale inflation recorded a jump of 4.43% in May, recording its 14-month high on elevated food and fuel prices, latest price data released by the commerce and industry ministry showed. The Wholesale Price Index (WPI) had witnessed a growth of 3.18% in April and 2.26% in May 2017. Primary articles, which accounts for more than a fifth of the entire wholesale price index grew 3.16% in May from following 1.41% rise in April. Fuel and power inflation, which has a weightage of around 13% in WPI, rose at 11.22% in May from 7.85% in April.