India’s wholesale price inflation declines to 2.17% in May

In May, India’s wholesale price inflation declined to 2.17 per cent, as compared to previous month's 3.85 per cent due to fall in the prices of vegetables, onion, fuel and minerals. However, on a year-on-year basis, the wholesale prices have risen, as last year the annual rate of inflation had declined 0.90 per cent in May, as per the data released by Ministry of Commerce and Industry on Wednesday.

In May, potato prices plunged nearly 44.36 per cent, as compared to last year's rise of 83.98 per cent. The food inflation also dipped to 2.27 per cent from that of 6.82 per cent of last year.

Likewise, onion prices also fell 12.86 per cent in May in comparison with fall of 34.74 per cent in the previous year, while the prices of pulses plummeted 19.73 per cent in contrast to the rise of 31.23 per cent last year.

Fuel and power rose 11.69 per cent as against drop of 14.87 per cent previous year.

The weightage of primary articles rose to 22.6 per cent in comparison with 20.12 per cent. Prices of manufactured products, which account for 64.23 per cent of the index, rose by 2.55 per cent in May as against drop of 0.63 per cent.