India’s May Wholesale Inflation Hits 9.7% as Fuel Prices Soar
Wholesale price inflation jumped to a series‑high 9.68% in May, spurred by a 61% surge in crude petroleum prices and a 30% rise in fuel‑and‑power costs. The figure, the first under the 2022‑23 base year, signals mounting pressure on downstream prices and could force the RBI to reassess monetary policy.