India's May WPI inflation accelerates to 12.94% year-on-year

India's wholesale price inflation accelerated to 12.94% year-on-year in May, versus 10.49% year-on-year in April, mainly due to a spike in energy prices, government data showed on Monday.

Fuel prices accelerated by 37.61% year-on-year in May, the data showed.

The government said the high rate of inflation in May was primarily due to a low base effect and a rise in prices of crude petroleum, mineral oils and manufactured products.