Monthly inflation shoots up to 9.06% in May

Wholesale prices, based on monthly WPI, jumped 9.06% in May compared to the same month a year ago.

The inflation rate was 8.66% in April.

In just one month, prices increased by 1.47%, on the higher side.

The inflation rate is higher than the expectation of the market — which was around 8.6%.

Manufactured products too increased their prices, like others such as petrol and food. They were up by 7.27%.

Not surprisingly, Petrol prices were up a whopping 27.3% thanks to the relentless increase in international crude prices.