"wholesale-price-index"

Rise in prices of food articles, especially vegetables and manufactured items, fuels increase

In a statement issued here, IMA State president Dr BN Rao said the prices of 384 essential drugs and over 1,000 formulations were hiked by over 11 per cent due to a sharp rise in the Wholesale Price Index (WPI) from Saturday.

The govt must act to quickly rein in the runaway inflation before it inflicts further distress on people and erodes the demand, making an equitable recovery even more difficult

Inflation in fuel and power basket spiked to 37.61 per cent during May, against 20.94 per cent in April, amid hardening of global commodity prices.

However, observers cited that even volatility on account of profit booking will likely trigger in bottom fishing, thereby reigniting the up move.