India’s WPI inflation falls to its lowest level at -3.48 pc since Nov, 2015

New Delhi: India's wholesale price index (WPI)-based inflation fell to its lowest level since November 2015 to -3.48 per cent in May.

In April, the wholesale inflation was -0.92 per cent. At -3.48 per cent, the latest WPI inflation print is the lowest in seven-and-a-half years. The last time wholesale inflation was lower was in November 2015, when it had come in at -3.68 per cent.

According to the data, the food wholesale inflation has fallen to -1.59 per cent in May as compared to 0.17 per cent in April.

The wholesale inflation data comes a couple of days after the statistics ministry said on June 12 that headline retail inflation fell to a 25-month low of 4.25 percent in May.

Not only did wholesale prices fall on a year-on-year (YoY) basis in May, resulting in the sub-zero inflation print, but they were also lower compared to April, with the all-commodity index of the WPI down by 0.9 per cent. This is the greatest sequential fall in the index in five months.

However, in May, all three major groups of the WPI, primary articles, fuel and power, and manufactured products, saw their indices falling from April for the first time since December 2022.

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