Retail Inflation: Retail Inflation Reached A Six-Month High In May
Retail Inflation: Retail inflation reached a six-month high in May, food prices increased. India’s consumer price index (CPI) based retail inflation has hit a six-month high.
According to the data released on Monday, retail inflation in the month of May stood at 6.3 percent. This is higher than the upper level of the flexible inflation target set by the Reserve Bank of India.
According to the data released by the National Statistical Office, food inflation rose to 5 per cent in May from 2 per cent in April. This inflation has increased due to increase in the prices of products like meat, fish, eggs and oil.
The fuel bill increased by 11.6 percent due to the increase in the retail prices of petrol and diesel by the government.
Services inflation has also picked up significantly during the second wave of the pandemic, driven by rising health, transport and personal care prices.
At the same time, inflation based on wholesale prices reached a record high of 12.94 percent in May. This jump in wholesale inflation was seen due to a jump in the prices of crude oil and manufacturing goods.
This record increase in WPI inflation was also seen in May 2021 due to the low base effect.
In May, 2020, the wholesale inflation rate stood at (-) 3.37 percent. May was the fifth month in a row when inflation based on the Wholesale Price Index (WPI) saw an uptick.
In April 2021 also, the wholesale inflation rate was in double digits. Wholesale inflation stood at 10.49 per cent in April.
Petrol price today: Petrol-diesel price released, now oil is available at this rate.
There was no change in the prices of petrol and diesel on Tuesday. While the price of petrol was increased by 29 paise on Monday, the price of diesel was increased by 30 paise per liter.
Due to this, petrol in Delhi had gone to Rs 96.41 per liter while diesel was also at Rs 87.28 per liter.
At the same time, the price of petrol in Mumbai is Rs 102.58 per liter. Petrol in Chennai and Kolkata is Rs 97.69 and Rs 96.34.
Similarly, the price of diesel is also Rs 87.28, Rs 94.70, Rs 91.92 and Rs 90.12 per liter in the 4 cities of Delhi, Mumbai, Chennai and Kolkata.
