<p class="bodytext">Wholesale price-based inflation rose to a record high of 15.88 per cent in May on rising prices of food items and crude oil.</p>.<p class="bodytext">The Wholesale Price Index-based inflation was 15.08 per cent in April and 13.11 per cent in May last year.</p>.<p class="bodytext">"The high rate of inflation in May, 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, food articles, basic metals, non-food articles, chemicals & chemical products and food products etc. as compared to the corresponding month of the previous year," the commerce and industry ministry said in a statement.</p>.<p class="bodytext">The WPI inflation has remained in double digit for the 14th consecutive month since April last year and has been in the upper trajectory for three straight months.</p>.<p class="bodytext"><strong>Read | <a href="https://www.deccanherald.com/business/economy-business/retail-inflation-cools-but-remains-much-above-rbi-s-comfort-level-1117793.html" target="_blank">Retail inflation cools but remains much above RBI’s comfort level</a></strong></p>.<p class="bodytext">Inflation in food articles in May was 12.34 per cent, as prices of vegetables, wheat, fruits and potato witnessed sharp spike over the year-ago period.</p>.<p class="bodytext">The rate of price rise in vegetables was 56.36 per cent, while in wheat it was 10.55 per cent and in egg, meat and fish, inflation was 7.78 per cent.</p>.<p class="bodytext">In the fuel and power basket, inflation was 40.62 per cent, while in manufactured products and oil seeds, it was 10.11 per cent and 7.08 per cent, respectively.</p>.<p class="bodytext">Inflation in crude petroleum and natural gas was 79.50 per cent in May.</p>.<p class="bodytext">Retail inflation in May was 7.04 per cent, remaining above the Reserve Bank's inflation target for the fifth straight month.</p>.<p class="bodytext">To tame stubbornly high inflation, the RBI hiked its key interest rate by 40 basis points in May and 50 basis points in June.</p>.<p class="bodytext">The central bank, last week, also raised inflation projection by 100 basis points to 6.7 per cent for 2022-23.</p>
<p class="bodytext">Wholesale price-based inflation rose to a record high of 15.88 per cent in May on rising prices of food items and crude oil.</p>.<p class="bodytext">The Wholesale Price Index-based inflation was 15.08 per cent in April and 13.11 per cent in May last year.</p>.<p class="bodytext">"The high rate of inflation in May, 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, food articles, basic metals, non-food articles, chemicals & chemical products and food products etc. as compared to the corresponding month of the previous year," the commerce and industry ministry said in a statement.</p>.<p class="bodytext">The WPI inflation has remained in double digit for the 14th consecutive month since April last year and has been in the upper trajectory for three straight months.</p>.<p class="bodytext"><strong>Read | <a href="https://www.deccanherald.com/business/economy-business/retail-inflation-cools-but-remains-much-above-rbi-s-comfort-level-1117793.html" target="_blank">Retail inflation cools but remains much above RBI’s comfort level</a></strong></p>.<p class="bodytext">Inflation in food articles in May was 12.34 per cent, as prices of vegetables, wheat, fruits and potato witnessed sharp spike over the year-ago period.</p>.<p class="bodytext">The rate of price rise in vegetables was 56.36 per cent, while in wheat it was 10.55 per cent and in egg, meat and fish, inflation was 7.78 per cent.</p>.<p class="bodytext">In the fuel and power basket, inflation was 40.62 per cent, while in manufactured products and oil seeds, it was 10.11 per cent and 7.08 per cent, respectively.</p>.<p class="bodytext">Inflation in crude petroleum and natural gas was 79.50 per cent in May.</p>.<p class="bodytext">Retail inflation in May was 7.04 per cent, remaining above the Reserve Bank's inflation target for the fifth straight month.</p>.<p class="bodytext">To tame stubbornly high inflation, the RBI hiked its key interest rate by 40 basis points in May and 50 basis points in June.</p>.<p class="bodytext">The central bank, last week, also raised inflation projection by 100 basis points to 6.7 per cent for 2022-23.</p>