14/06/2023
India’s wholesale prices remained in deflationary zone for the second month in a row in May, with prices falling 3.48%, and all categories reporting a contraction in prices compared to May 2022, when inflation had hit a record high of 16.6%.
The effects of a high base from last May, when taxes on petroleum products were slashed, dragged fuel and power inflation to -9.2%, while manufacturing products’ prices fell 3%.