Wholesale inflation declined to minus 3.48 percent in May, the lowest level in three years
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The inflation figure for May 2023 is a three-year low. Earlier, the WPI inflation stood at (-) 3.37 per cent in May, 2020. According to government data, food inflation eased to 1.51 per cent in May. It was at 3.54 per cent in April.
New Delhi. Inflation based on the Wholesale Price Index has come down to minus 3.48 per cent in May. This is its lowest level in three years. Wholesale inflation came down mainly due to lower prices of food items, fuel and manufactured articles. This is the second consecutive month when the Wholesale Price Index based inflation is below zero. In April it was at (-) 0.92 percent. The wholesale inflation in May, 2022 stood at 16.63 per cent. The inflation figure for May 2023 is a three-year low. Earlier, the WPI inflation stood at (-) 3.37 per cent in May, 2020. According to government data, food inflation eased to 1.51 per cent in May. It was at 3.54 per cent in April.
“The decline in wholesale inflation in May was mainly due to lower prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum and natural gas, chemicals and chemical products,” the commerce and industry ministry said on Wednesday. Inflation in the fuel and power segment eased to (-) 9.17 per cent in May. It was 0.93 percent in April. Inflation in manufactured products stood at minus 2.97 per cent in May. It was minus 2.42 percent in April. Retail inflation also declined to a 25-month low of 4.25 per cent in May.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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