WPI falls into a negative territory for the second consecutive month
14-Jun-2023
While
the retail inflation softens to a 25-month low print of 4.25 per cent, the wholesale
inflation falls down to -3.48 per cent in May 2023. The decline in inflation
can be attributed to the fall in prices of mineral oils, basic metals, food
products, textiles, non-food articles, crude petroleum and natural gas and
chemical and chemical products. During May, while the largest component of the
index – Manufactured products – declined by -2.97 per cent ( -2.47 per cent in
April), Primary article inflation was at -1.79 per cent (1.6 per cent in April)
and Fuel and power inflation stood at -9.2% (0.9% in April).