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WPI Inflation: After the news of reduction in retail inflation rate, there is news of reduction in wholesale inflation rate as well. The wholesale inflation rate in the country has come down to the lowest level of 3 years and it has come down to -3.48 percent in May. After the month of June of the year 2020, it has come to the lowest level for the second time. Earlier in May 2020, the wholesale inflation rate was at 3.37 per cent.
How much was the wholesale inflation rate in April
Due to this, in the last month i.e. April 2023, the wholesale inflation rate came to 0.92 percent. The Department for Promotion of Industry and Internal Trade has released this figure. These inflation figures have been issued through this department under the Ministry of Commerce and Industry. Retail inflation also came down to a 25-month low of 4.25 per cent in May.
Why the wholesale inflation rate has come down
The main reason behind the decline in the country’s wholesale inflation rate is that along with mineral oil, basic metals, food items, textiles, the prices of non-food articles have decreased. Along with crude oil and petroleum products, a significant decline has also been registered in the prices of natural gas, chemical and chemical products. The direct effect of the decrease in the wholesale inflation rate in the country can also be seen on the interest rates and people can get more relief in the coming times.
Wholesale inflation remained below zero for the second consecutive month
This is the second consecutive month when the inflation based on the Wholesale Price Index is below zero. In April it was at -0.92 per cent. If we look at this in comparison to the last one year, in May 2022, the wholesale inflation rate was 16.63 percent. This huge fall in the inflation rate on year-on-year basis is a sign of relief.
How was the inflation rate of which segment?
According to government data, food inflation came down to 1.51 per cent in May from 3.54 per cent in April.
Inflation in the fuel and energy segment came down to -9.17 per cent in May from 0.93 per cent in April.
The inflation rate of manufacturing products was minus 2.97 percent in May, which was down from -2.42 percent in April.
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