WPI-based inflation rate in India falls to minus 3.48% in May

The month-over-month change in WPI for May was minus 0.86 per cent.

The fall in WPI inflation rate in May is primarily attributed to a fall in prices of textiles, chemical and chemical products, mineral oils, basic metals, food products, non-food articles, crude petroleum and natural gas, an official release said.

The index for manufactured products declined by 0.35 per cent to 140.7 in the month from 141.2 for April.

Out of the 22 groups of manufactured products, seven groups saw a rise in prices, whereas 11 witnessed a fall. Textiles was among the groups that saw a decrease in prices.

The index for fuel and power group declined by 2.62 per cent to 148.6 in the month from April’s 152.6. Prices of coal (minus 0.67 per cent), mineral oils (minus 2.01 per cent) and electricity (minus 5.46 per cent) declined in the month compared to April.

Fibre2Fashion News Desk (DS)