Wholesale inflation down 3.21 percent in May, yet food prices rise. The wholesale price index (WPI) -based inflation has fallen by 3.21 percent during the month of May. During this time, the price of fuel and electricity has come down, although the prices of food items have increased.
According to the data released on Monday by the Ministry of Commerce and Industry, the ‘annual rate of monthly wholesale price index (WPI) inflation was negative at 3.21 per cent (provisional figure) during May 2020, which rose 2.79 per cent during the same month a year ago. was.’ According to news agency PTI, inflation in food items stood at 1.13 percent during May. However, a month before this, it was 2.55 percent in April.
Similarly, in the case of fuel and electricity baskets, in May, inflation reached 19.83 percent, while in April it was 10.12 percent. In the case of manufactured products also, the prices fell by 0.42 per cent during the month of May.
Wholesale inflation down 3.21
March figures change Significantly
these figures are not completely permanent right now. The implementation of the lockdown in the country from 25 March 2020 has also affected the compilation of data. The Commerce Ministry then released only the figures for food items, primary commodities and fuel and power group in the wholesale price index for the month of April.
Significantly, due to the lockdown of the country in many stages, the economy and functioning were almost completely stalled. Now in the month of June, the economy is open due to Unlock-1 and there is some relief, but due to increasing cases of Corona, people are still afraid to go to the markets. In such a situation, inflation is expected to remain soft, because without demand, prices do not rise at all.