India’s wholesale price inflation falls to -3.48% in May 2023

The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is (-) 3.48% (Provisional) for the month of May 2023, against (-) 0.92% recorded in April 2023.

Reason : Fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum & natural gas, and chemical & chemical products

The food index has declined to 1.59%, while fuel and power fell to 9.17%

Manufactured product prices fell 2.97% in May 2023.

Source : PIB