Why fuel holds key to high inflation and why that’s bad news4 min read . Updated: 14 Jun 2021, 07:18 PM IST
The high excise duty on petroleum products is likely to stay through 2021-22, given that the low collections on the corporate tax front will continue and the government needs to compensate for that from somewhere. This will add to inflation as measured by WPI.
In May 2021, inflation as measured by the wholesale price index (WPI) stood at 12.94%. This is the highest in the current series, which starts in April 2012. Inflation is the rate of price rise.
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