WPI inflation falls to 14-month low in May

Wholesale inflation, as measured by the Wholesale Price Index (WPI), fell for the fifth consecutive month in India in May to reach a 14-month low of 0.4%, according to data released by the Ministry of Commerce and Industry on Monday.

- Auhona Mukherjee

NEW DELHI:

The latest wholesale inflation data comes a week after data showing that retail inflation fell to a six-year low of 2.8% in May.

The fall in wholesale inflation is primarily driven by an easing of inflation for manufactured products and a contraction in vegetable and pulse prices.

May's WPI print was lower than a projection of 0.7% by a Bloomberg poll of economists. Even on a sequential (month-on-month) basis, WPI contracted by 0.1%, making it the seventh consecutive month that the index has sequentially contracted.