 "inflation, wpi, wholesale price index, economy, prices, commodities, electricity, consumption")
India's wholesale price index (WPI)-based inflation fell to its lowest level since November 2015 to -3.48 per cent in May, data released by the Ministry of Commerce on Wednesday showed. In April, the wholesale inflation was -0.92 per cent.
This is the second month in a row when wholesale inflation in India has been in negative territory. The food wholesale inflation has fallen to -1.59 per cent in May as compared to 0.17 per cent in April.
The inflation in fuel and power category was recorded at -9.17 per cent as compared to 0.93 per cent in April. The inflation in manufactured products fell from -2.42 per cent to -2.97 per cent in May.
"Decline in the rate of inflation in May, 2023, is primarily contributed by fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum and natural gas, and chemical and chemical products," the ministry said.
