May WPI inflation cools down further to -3.48%, lowest since November 2015

This is the second month in a row when wholesale inflation in India has been in the negative territory

India's wholesale price index (WPI)-based inflation fell to its lowest level since November 2015 to -3.48 per cent in May, data released by the Ministry of Commerce on Wednesday showed. In April, the wholesale inflation was -0.92 per cent. 

This is the second month in a row when wholesale inflation in India has been in negative territory. The food wholesale inflation has fallen to -1.59 per cent in May as compared to 0.17 per cent in April. 

The inflation in fuel and power category was recorded at -9.17 per cent as compared to 0.93 per cent in April. The inflation in manufactured products fell from -2.42 per cent to -2.97 per cent in May.

"Decline in the rate of inflation in May, 2023, is primarily contributed by fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum and natural gas, and chemical and chemical products," the ministry said.