According to statistics that were made public by India’s commerce ministry on June 14th, wholesale prices in India fell even farther into negative territory in the month of May. According to the statistics, the Wholesale Price Index (WPI) inflation rate dropped to -3.48 percent in May from -0.92 percent in April, with a positive base effect playing the leading role once again in this story.
The most recent reading on the WPI inflation rate, which came in at -3.48 percent, is the lowest it has been in seven and a half years. The figures on wholesale inflation were released a few days after the statistics ministry announced, on June 12, that headline retail inflation reached a 25-month low of 4.25 percent in May. The data on wholesale inflation were released a couple of days after that.
