Falling food prices slow down wholesale inflation to 5-month low in May

May WPI at 2.17 %, down from 3.85 % in May; fuel inflation continues to decline for 4th month

Inflation based on the wholesale price index (WPI) slipped to a five-month low of 2.17 per cent in May as food inflation turned negative and prices of manufactured items rose at their weakest pace in the past five months.

The May figures for the WPI represent the second instance that wholesale inflation is being calculated according to the new series with the updated base year of 2011-12, which was released last month.

Even as WPI inflation has been slowing down over the past couple of months - it stood at 3.85 per cent back in April - official data, released