New Delhi: India’s wholesale inflation in May fell to (-) 3.48 per cent year-on-year, from (-) 0.92 per cent in April, the Ministry of Commerce & Industry stated on Wednesday. The WPI inflation in May was the lowest in seven-and-a-half years.
May’s WPI data print of (-) 3.48 per cent is the lowest wholesale inflation print recorded since May 2020, when wholesale inflation was at (-) 3.37 per cent. The fall in wholesale inflation comes in line with the easing of May’s retail inflation, which was at a 25-month low of 4.25 per cent.
The WPI inflation in May last year was at 16.63 per cent.
The ministry said that the decline in the rate of the Wholesale Price Index (WPI) last month was primarily contributed by a “fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum & natural gas, and chemical & chemical products.”
Inflation in food articles in May eased to 1.51 per cent, against 3.54 per cent in April.
Meanwhile, fuel and power basket inflation eased to (-) 9.17 per cent last month, from 0.93 per cent in April. In manufactured products, the WPI inflation rate was (-) 2.97 per cent in May, as against (-) 2.42 per cent in April.
Agencies