Wholesale Price Inflation At (-) 2.36 Per Cent in May
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India's wholesale prices fell at a slower-than-expected annual rate of 2.36 per cent in May, their seventh straight fall, mainly on the back of plunging oil and manufacturing goods prices, government data showed on Monday.
Wholesale fuel prices in May fell 10.51 per cent year-on-year, while costs of manufacturing goods edged down 0.64 per cent from a year ago.
According to the WPI data for the month of May, the annual rate of inflation, stood at - 2.36 percent, as compared to -2.65 percent for the previous month and 6.18 percent during the corresponding month of the previous year.
Build up inflation rate in the financial year so far was 0.91 per cent compared to a build up rate of 0.94 per cent in the corresponding period of the previous year.
The index for "Food Articles" group rose by 0.5 per cent to 253.9 (provisional) from 252.7 (provisional) for the previous month due to higher price of gram (11 per cent), urad (8 per cent), arhar (6 per cent), masur and tea (5 per cent each).
However, the price of beef and buffalo meat, poultry chicken and barley (3 per cent each), ragi (2 per cent) and maize, wheat, coffee, pork, and fruits and vegetables (per cent each) declined.
The index for "Non-Food Articles" group rose by 5.1 per cent to 213.9 (provisional) from 203.5 (provisional) for the previous month due to higher price of soyabean (15 per cent), guar seed and sugarcane (13 per cent each).
However, the price of raw silk, gingelly seed and niger seed (7 per cent each) and copra (4 per cent) and fodder (1 per cent) declined.
The fuel and power index, which has 14.91 per cent weightage in the overall index, rose by 3.0 per cent to 189.8 (provisional) from 184.2 (provisional) for the previous month due to higher price of furnace oil (12 per cent), petrol (8 per cent), high speed diesel (4 per cent), bitumen (3 per cent), electricity (agricultural, 2 per cent) and electricity (railway traction), electricity (industry) and electricity (domestic) (1 per cent each).
The index for manufactured products, which carries 64.97 per cent weightage rose by 0.2 per cent to 154.1 (provisional) from 153.8 (provisional) for the previous month.