India’s wholesale price index (WPI)-based inflation fell to the lowest ever level of (-)3.48 per cent in May owing to decline in the prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum and natural gas, and chemical & chemical products.
According to data released by commerce ministry on Wednesday, the WPI-based inflation for May is the lowest ever in recent times.
While in April it stood at (-)0.92 per cent, in March it fell to a 29-month low of 1.34 per cent owing to steep fall in indexes of primary articles, manufactured products, fuel and power as well as food.
Wholesale inflation was 3.85 per cent in February, while it was 4.73 per cent in January.
Even the February WPI inflation at 3.85 per cent was a two-year low.
In January 2021, wholesale inflation had fallen to 2.51 per cent.
Meanwhile, retail inflation for May fell to a 25-month low of 4.25 per cent on Monday.
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