India's wholesale prices jump to record 15.88% in May

By Ovunc Kutlu

ANKARA (AA) - Wholesale prices in India jumped to a record 15.88% in May, according to provisional figures released on Tuesday by the Ministry Of Commerce and Industry.

While this marked the highest annual gain in wholesale prices since the series was launched in 2012, wholesale price inflation in the South Asian country came in the double-digits for the 14th month in a row.

The market estimate was 15.1% for the figure, which stood at 15.08% in April.

"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 ministry said in a statement.