Wholesale price inflation fell by 3.21% in May, shows data

India’s wholesale price inflation stood at 3.21% in May, data released by the government showed on Monday. This was lower than the 2.79% recorded during the corresponding month the previous year. The decline comes at a time when the country’s economy has been ravaged by the coronavirus pandemic and the countrywide lockdown enforced to contain it.

The price of primary articles fell by 0.087% to 136.2 from 137 for the month of March. Prices of food articles rose by 0.73% while the prices of crude petroleum and natural gas fell by 23.18%. The prices of non-food articles also declined by 1.44% as compared to March.

The “fuel and power” category also showed of a decline of 15.88%. While prices of mineral oils group fell by 30.10%, price of coal and electricity remained unchanged.

Wholesale prices of manufactured products fell by 0.42% to 118.1 in May. Ten groups that have witnessed increase in prices are manufacture of beverages; tobacco products; wearing apparel; leather and related products; wood and of products of wood and cork; paper and paper products; pharmaceuticals, medicinal chemical and botanical products; other non-metallic mineral products; motor vehicles, trailers and semi-trailers and other transport equipment.

The groups that witnessed decrease…

Read more

Live Updates COVID-19 CASES