WPI inflation declines to 3-year low of (-) 3.48 pc in May
PTI, Jun 14, 2023, 12:43 PM IST
Credit: iStock Photo
Wholesale price-based inflation rate declined by (-) 3.48 per cent in May, a 3-year low, on easing prices of food, fuel and manufactured items.
The wholesale price index (WPI) based inflation rate has been in the negative territory for the second straight month. In April it was (-) 0.92 per cent.
In May, 2022 WPI inflation was at 16.63 per cent.
The May, 2023 data print of (-) 3.48 per cent is the lowest WPI print recorded since May 2020, when wholesale inflation was at (-) 3.37 per cent.
Inflation in food articles eased to 1.51 per cent in May, against 3.54 per cent in April.
”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 & natural gas, and chemical & chemical products,” the commerce and industry ministry said on Wednesday.
Fuel and power basket inflation eased to (-) 9.17 per cent in May, from 0.93 per cent in April.
In manufactured products, the inflation rate was (-) 2.97 per cent in the month under review, as against (-) 2.42 per cent in April.
The deceleration in WPI comes in line with the easing of May retail inflation, which came in at an 25-month low of 4.25 per cent.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Sensex, Nifty decline on selling in IT shares, FII sellout; end Samvat 2080 with 22% gains
Sensex, Nifty decline in early trade on unabated foreign fund outflows, selling in IT stocks
Gold surges Rs 1,000 to breach Rs 82k-mark as Diwali sparkles demand
Car makers witness record sales on Dhanteras; Oct bookings up by 30%
Dhanteras begins on slow note; Jewellers expect footfalls to increase
MUST WATCH
Latest Additions
Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back
Medical College expels 5 MBBS students from hostel for ragging juniors
Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP
Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi
Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.