India’s wholesale price inflation stood at 3.21% in May, data released by the government showed on Monday. This was lower than the 2.79% recorded during the corresponding month the previous year. The decline comes at a time when the country’s economy has been ravaged by the coronavirus pandemic and the countrywide lockdown enforced to contain it.
The price of primary articles fell by 0.087% to 136.2 from 137 for the month of March. Prices of food articles rose by 0.73% while the prices of crude petroleum and natural gas fell by 23.18%. The prices of non-food articles also declined by 1.44% as compared to March.
The “fuel and power” category also showed of a decline of 15.88%. While prices of mineral oils group fell by 30.10%, price of coal and electricity remained unchanged.
Wholesale prices of manufactured products fell by 0.42% to 118.1 in May. Ten groups that have witnessed increase in prices are manufacture of beverages; tobacco products; wearing apparel; leather and related products; wood and of products of wood and cork; paper and paper products; pharmaceuticals, medicinal chemical and botanical products; other non-metallic mineral products; motor vehicles, trailers and semi-trailers and other transport equipment.
The groups that witnessed decrease in prices were manufacture of food products; textiles; printing and reproduction of recorded media; and chemicals, among others.
The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 145.7 in March to 146.1 in May.
Buy an annual Scroll Membership to support independent journalism and get special benefits.
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!