Hike in wholesale prices
Posted on: 15/Jun/2016 2:25:59 PM
Wholesale prices based on inflation rate has largely increased. There is also an increase in price of eatables. In the wholesale market, the price of potatoes is increased by 60 Percent. Compared to previous year, the price of pulses has raised up to 36 percent. The overall inflation rate in India for this year has increased for the second time in May. The inflation rate was 0.34 percent in April and the same is increased to 0.79 percent in May.
The ministry of commerce and industry has issued wholesale price indications based on inflation rate. The statistics for the month of May was rolled out yesterday.
Accordingly, the annual increase in price for the year is 7.88 percent. The same was 4.23 percent during the previous month. Further, in just two months, there is hike by 4.47 percent.
Further, based on these statistics, the retail inflation rate have also increased. Unlike previous years, the retail inflation rate which was 5.47 percent has now increased to 5.76 percent.
Further, there is increase in price of vegetables, pulses, sugar, and other eatables. During months between March and May, there is 38.36 percent increase in price of potatoes. A 19.54 percent hike in veggies price is observed too. Price of pulses and grains by 11.34 percent and 9.39 percent hike in milk products is seen as well.
Among the three major sectors, rates of fuel sector is declined too. Between May 2015 and 2016, rate of fuel has dipped by 6.14 percent. The dip in petrol and diesel are 10.86 and 5.01 percent respectively. There is dip of 0.91 percent with the manufacture unit.
