The month over month change in WPI index for the month of May 2024 stood at 0.20 per cent as compared to April 2024.
India’s WPI inflation rate rose to 2.61 per cent in May, up from 1.26 per cent in April, driven by higher prices of food articles, manufactured food products, crude petroleum, and mineral oils.
The WPI index for May increased to 153.3 from April’s 153.0.
The index for manufactured products rose to 141.7, while the primary articles index increased to 187.7.
“Positive rate of inflation in May 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum and natural gas, mineral oils, other manufacturing, etc,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.
The official WPI for all commodities (Base: 2011-12 = 100) for the month of May 2024 increased to 153.3 from the previous month’s 153.0.
The index for manufactured products (weight 64.23 per cent) for May 2024 rose to 141.7 from 140.8 in April 2024. The index for ‘Manufacture of Textiles’ sub-group increased slightly to 135.9 in May from 135.5 in April, while the index for ‘Manufacture of Wearing Apparel’ decreased to 152.5 from 153.0 in April.
The index for primary articles (weight 22.62 per cent) increased to 187.7 in May 2024 from 186.7 in April 2024, while that for fuel and power (weight 13.15 per cent) decreased to 150.6 from 154.8 in April 2024.
Fibre2Fashion News Desk (KD)
