Wholesale Inflation In June Hits A Four Year High At 5.77 Per Cent

Wholesale price inflation in the month of June has been pegged at 5.77 per cent making it the highest monthly rise in inflation since December 2013. The rise in wholesale price inflation has been driven by crude oil products whose prices have risen by 48.7 per cent in the month of June, The Hindu has reported.

The prices of food items registered a rise of 1.8 per cent. Food inflation, however, is likely to increase in the wake of higher minimum support price announced by the government for various crops in coming months.

Fuel and power sectors have also witnessed a faster inflation of 16.2 per cent in comparison to 11.2 per cent in the month of May. The overall wholesale price inflation was at 4.43 per cent in the month of May. The Congress party spokesperson R S Surjewala criticised the government for the high inflation figure.