Wholesale prices in the country witnessed a deflation of 3.21 percent in May due to a sharp decline in prices of fuel and power, even as food articles turned expensive.
"The annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at (-) 3.21 percent (provisional) for May 2020 as compared to 2.79 percent during the corresponding month of the previous year," the Commerce and Industry Ministry said in a statement.
Inflation in food articles during May stood at 1.13 percent, as against 2.55 percent in April. In fuel and power basket, deflation stood at 19.83 percent in May, as against 10.12 percent in the previous month.
Manufactured products witnessed a deflation of 0.42 percent in May.
Due to the nationwide lockdown imposed since March 25, the ministry had released truncated WPI inflation data for April, with figures of food, primary articles and fuel and power.
However, it has advised its field offices to collect price data through electronic means and the final index for the month would be released next month.
"Price data is collected from selected institutional sources and industrial establishments spread across the country online through web-based portal maintained by the National Informatics Centre (NIC)," the ministry said.
The final print of March WPI inflation stood at 0.42 percent as compared to its provisional levels of 1 percent reported on April 14, 2020, the ministry said.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks