Inflation surged in May on the back of rise in prices of crude petroleum, mineral oils viz. petrol, diesel, naphtha, furnace
etc. and manufactured products as compared the corresponding month of the previous year.
Inflation in fuel and power surged by 37.6% while for manufactured products, which have the highest weightage, it rose by 10.8%. For primary articles inflation rose by 9.6%
A global recovery has pushed crude oil and prices of other commodities upwards.
This is showing up in the domestic wholesale price index along with effects of supply-side bottlenecks due to the impact of local lockdowns in May.
The retail inflation print for the month of May will be released later today. It is expected that retail inflation will also start edging up driven by higher input prices.