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Inflation on the WPI jumped up. Retail inflation has also risen to 5.67% in May due to costlier food and fuel products. Food inflation touched 7.88% in May against 4.23% in April.
The prices of the vegetables stood up at 12.54% in May. The prices of pulses were still higher at 35.56% in May inspite of several steps taken by the Modi government. Prices of potatoes rose 60% in May. Non-vegetarian products such as egg and fish become costlier atleast by 10% in May.
The RBI refused to cut interest rate on fears that food inflation would be higher in the ensuing months. The governement failed to control the prices of both WPI and retail price indices.