WPI falls into a negative territory for the second consecutive month

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).