New Delhi, June 16 -- India's wholesale inflationary pressures remain elevated, but easing global crude oil prices and a stable rupee could help soften future price risks, potentially allowing the Reserve Bank of India (RBI) to defer any immediate rate hike despite a sharp rise in wholesale price inflation, according to a YES Bank report.

The report noted that the newly rebased Wholesale Price Index (WPI) inflation accelerated to 9.7 per cent year-on-year in May from 8.3 per cent in April, reflecting continued input cost pressures across the economy.

The report noted that the newly rebased Wholesale Price Index (WPI) inflation accelerated to 9.7 per cent year-on-year in May from 8.3 per cent in April, reflecting continued input cost pre...