Wholesale price inflation in India stood at 3.21% in May as compared to an earlier 2.79% recorded during the corresponding month the previous year.
The decline comes at a time when the country’s economy has been affected by the COVID-19 pandemic and the countrywide lockdown imposed to contain it.
The price of primary articles declined by 0.087% to 136.2 from 137 for March. Prices of food items increased by 0.73% while the prices of crude petroleum and natural gas fell by 23.18%. The prices of non-food articles also fell by 1.44% as compared to March.
The ‘fuel and power’ category also witnessed a decline of 15.88%. While prices of mineral oils group declined by 30.10%, the price of coal and electricity remained constant.
Wholesale prices of manufactured products reduced by 0.42% to 118.1 in May.
Ten groups that experienced an increase in prices include the 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 experienced a decrease in prices included the manufacture of food products; textiles; printing and reproduction of recorded media; and chemicals, among others.
