India’s wholesale price inflation accelerated further in May, largely driven by soaring fuel costs caused by the impact of the Middle East war, data from the Ministry of Commerce and Industry showed on Monday.
The wholesale price index climbed 9.68 percent year-over-year in May, faster than the 8.26 percent rise in April, according to the revised series of WPI with a new base year 2022-23. Moreover, this was the highest inflation rate since September 2022.
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