Wholesale inflation eased to a 3-year low of -3.48 per cent in May. Loktej Business News
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New Delhi, 14 June (Hindustan Times). After the retail inflation, there has been a decline in the inflation rate based on the Wholesale Price Index (WPI). The wholesale inflation rate has come down to -3.48 per cent in May. It was -0.92 percent in April. A year ago, in May 2022, the wholesale inflation rate was 16.63 percent, while in June 2020 it was -1.81 percent. In this way, this is its three-year low.
The Ministry of Commerce and Industry said in the data released on Wednesday that the wholesale inflation rate has come down to -3.48 percent in the month of May. The decline in WPI inflation was mainly due to lower prices of food articles, fuel and manufactured articles. This is the second consecutive month when the inflation rate based on WPI has come down below zero.
According to the data, food inflation came down to 1.51 per cent in May, while it stood at 3.54 per cent in April. Similarly, the inflation in fuel and power sector has come down to -9.17 per cent, while it was 0.93 per cent in the month of April. Inflation in manufactured products stood at -2.97 per cent in May, while it was minus 2.42 per cent in April.
It is noteworthy that according to the data released by the National Statistics Office (NSO), the retail inflation has also come down to 4.25 per cent in May, which is its 25-month low.
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