India’s Wholesale Price Index (WPI) for food surged significantly in May 2024, hitting a new high of 9.82%. The latest data, updated on 14 June 2024, revealed this spike in food inflation, marking a sharp rise from 7.74% in April 2024.
This latest figure reflects a year-over-year comparison, indicating that the WPI for food in May 2024 is markedly higher compared to the same month last year. The previous month’s data, which was also a year-over-year comparison, highlighted a lower increase, thereby underscoring the accelerated inflation trend in the food sector over the recent months.
The enduring rise in WPI for food signifies significant inflationary pressures, potentially driven by supply chain disruptions, adverse weather conditions, or other economic variables influencing the food market in India. Policymakers and stakeholders are closely monitoring these developments to strategize potential interventions to stabilize the market and shield consumers from escalating prices.
