WPI: Wholesale Inflation In May Shrinks By 3.21%

Wholesale inflation based on wholesale price index (WPI) for the month of May contracted by 3.21 percent in May, according to a government statement on Monday.

The Department of Promotion of Industry and Internal Trade (DPIIT) has resumed releasing detailed wholesale price index (WPI) data after suspending it for a month.

"This department has advised the field offices to collect price data through electronic means of the communication during the lockdown. The response rate for April 2020 has improved substantially. Final index for the month of April 2020 will be released in next month press note in the light of the updated data received from the selected sources," it said in a statement.

Food inflation also eased by 1.13 percent in May from 2.55 percent in the preceding month, as reported earlier. Prices of primary articles fell 2.92 percent when compared to last year, whereas power, fuel and lighting prices fell 19.8 percent.

Manufactured product prices declined by 0.42 percent while wholesale food prices rose 1.13 percent compared to the previous year.

WPI for the month of March has been revised to 0.42 percent from 1 percent.