Wholesale inflation at 2.61 percent in may, highest in 15 month

wholesale inflation rate has accelerated to a 15-month high of 2.61 per cent in may 2024. According to the data released by the Ministry of Commerce and Industry on Thursday, the wholesale inflation rate has increased for the third consecutive month. Earlier it was 1.26 per cent in April and 0.26 in March. At the same time, in the same period a year ago May 2023, it was below zero at 3.61 per cent.

The wholesale inflation rate has increased due to the increase in the prices of food items, especially vegetables and manufactured items. The Ministry of Commerce and Industry has said in its statement that the positive rate of inflation is mainly due to the increase in the prices of food items, manufacturing of food products, crude petroleum and natural gas, mineral oil, other manufacturing etc.

Food items became expensive

According to the data, the wholesale inflation rate of food items was 9.82 percent in May this year, while it was 7.74 percent in April. Similarly, the wholesale inflation rate of vegetables was 32.42 percent in May, which was 23.60 percent in April. On the other hand, the inflation rate of onion was 58.05 percent, the inflation rate of potato was 64.05 percent and the inflation rate of pulses was 21.95 percent in May.

On the other hand, the wholesale inflation rate of fuel and electricity decreased marginally to 1.35 percent in May, which was 1.38 percent in April. The wholesale inflation rate of manufactured products was 0.78 percent in May, which was 0.42 percent below zero in April.

Retail inflation rate decreased in May

On one hand, the wholesale inflation rate has increased in May. On the other hand, the figures of retail inflation rate are the opposite of this. Retail inflation declined to 4.75 per cent in May, its lowest level in a year.