Blitz Bureau
NEW DELHI: The annual rate of inflation based on the Wholesale Price Index (WPI) eased further to a 14-month low of 0.39 per cent in May from 0.85 per cent in April and 2.05 per cent in March, reported IANS.
According to data released by the Ministry of Commerce and Industry, the month-over-month change in WPI inflation during May stood in the negative zone at (-) 0.06 per cent as compared to the previous month of April, reflecting the declining trend in inflation.
There was a decline in prices of food as well as fuels such as petrol and diesel during the month compared to the previous month, which resulted in the overall month-onmonth inflation rate turning negative. Meanwhile, the country’s inflation rate based on the Consumer Price Index (CPI) declined to 2.82 per cent in May compared to the same month of the previous year. This is the lowest level of retail inflation since February 2019.
Food Inflation declined to 0.99 per cent, which is the lowest since October 2021. This is the seventh month in a row that food inflation has registered a decline as the agricultural output has been on the rise.
