Wholesale price-based inflation rate has fallen -3.48% in May, a 3-year low, on easing prices of food, fuel and manufactured items. The fall can be attributed to a decline in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum and natural gas etc.Indias wholesale inflation hits 3-year low in May at (-) 3.48 pcRead @ANI Story | https://t.co/u5Yg5HMusn#WPI #WholesaleInflation #Inflation pic.twitter.com/SML6EVAwlZ— ANI Digital (@ani_digital) June 14, 2023 The wholesale price index (WPI) based inflation rate has been in the negative territory for the second straight month. In April it was -0.92%.In May, 2022 WPI inflation was at 16.63%.In its recent monetary policy, the RBI marginally slashed its inflation projections for FY24 from 5.2% to 5.1%. The RBI MPC predicted inflation for Q1 at 4.6%, Q2 at 5.2%, Q3 at 5.4%, and Q4 at 5.2%.
