The annual rate of inflation is 15.88% (Provisional) for the month of May, 2022

Delhi, June 14

The annual rate of inflation is 15.88% (Provisional) for the month of May, 2022 (over May, 2021) as compared to 13.11% in May, 2021. 

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 Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade released the Index numbers of wholesale price in India (Base Year: 2011-12) for the month of May, 2022 (Provisional) and for the month of March, 2022 (Final) today.

The provisional figures of Wholesale Price Index (WPI) are released on 14th of every month (or next working day) with a time lag of two weeks of the reference month and compiled with data received from institutional sources and selected manufacturing units across the country.

 After 10 weeks, the index is finalized and final figures are released and then frozen thereafter

The month over month change in WPI index for the month of May, 2022 stood at 1.38 % as compared to April, 2022.

Month over Month Change in Major Groups of WPI:

  1. Primary Articles (Weight 22.62%):-The index for this major group increased by 2.80% to 179.8 (provisional) in May, 2022 from 174.9 (provisional) for the month of April, 2022. Prices of Crude Petroleum & Natural Gas (8.52%), Food Articles (2.40%), Minerals (1.73%) and Non-food Articles (1.52%) increased in May, 2022 as compared to April, 2022.
  2. Fuel & Power (Weight 13.15%):-The index for this major group increased by 2.25% to 154.4 (provisional) in May, 2022 from 151.0 (provisional) for the month of April, 2022. Prices of Mineral Oils (3.34%) increased in May, 2022 as compared to April, 2022. Prices of coal and electricity remain unchanged.
  3. Manufactured Products (Weight 64.23%):-The index for this major group increased by 0.56% to 144.8 (provisional) in May, 2022 from 144.0 (provisional) for the month of April, 2022. Out of the 22 NIC two-digit groups for manufactured products, 19 groups have witnessed increase in prices while 3 groups that have witnessed decrease in prices.

The increase in prices is mainly contributed by chemicals and chemical products, food products, textiles, machinery and equipment, and electrical equipment. Some of the groups that have witnessed decrease in prices are basic metals, computer, electronic and optical products, other manufacturing in May, 2022 as compared to April, 2022.

 4.   WPI Food Index (Weight 24.38%): The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group have increased from 172.9 in April, 2022 to 176.1 in May, 2022. The rate of inflation based on WPI Food Index increased from 8.88% in April, 2022 to 10.89% in May, 2022.

5.        Final index for the month of March 2021 (Base Year: 2011-12=100): For the month of March, 2022 the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 148.9 and 14.63% respectively.

6.        Response Rate: The WPI for May, 2022 have been compiled at a weighted response rate of 81.2 percent, while the final figure for March, 2022 is based on the weighted response rate of 91.8 percent. The provisional figures of WPI will undergo revision as per the final revision policy of WPI.