Wholesale price index down 3.21% in May

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New Delhi, Monday 15 June 2020

Inflation has been under control during the lock-down, with the wholesale price index declining by 3.21 per month in March, according to data released by the government on Monday.

But I came in at -3.21 in the month. It was 2.97 percent in the month I last year. Inflation has come down due to fall in fuel and electricity prices. Of course, food prices have risen in the meantime.

According to data released by the Ministry of Commerce and Industry today, the monthly wholesale price index (WPI) inflation declined to 3.21 per cent year-on-year in May from 2.79 per cent in the same month a year ago.

It may be recalled that the government had delayed the announcement of wholesale inflation last month when it imposed a lockdown on March 25 to curb the Koro epidemic.

Food inflation rose to 1.13 per cent in May. It was 2.55 per cent in April. Inflation in the fuel and power sector in May was 19.83 per cent.

It had also declined by 10.12 per cent in April a month ago. May saw a 0.42 per cent decline in manufactured products. The opposite of a price increase is called deflation. In which the value of the currency increases i.e. the value decreases.

As production and employment decline, so do prices. The implementation of lockdown in the country from March 25, 2020 has also affected the compilation of statistics. The Commerce Ministry had then released compact figures for wholesale prices for the month of April.

For the month of May, only food items, primary items and fuel as well as electricity group figures have been released. However, according to the ministry's data, the final inflation figure for March was 0.42 per cent, up from a temporary 1 per cent on April 14, 2020.

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