New Delhi, June 14 (KNN) Wholesale Price Index (WPI)-based inflation of India in May declined to -3.48 per cent, said government data on Wednesday making it the second month in a row when WPI has been in negative territory.

In April, the wholesale inflation was -0.92 per cent and the drop in May is also the lowest level since November 2015.

The food wholesale inflation has fallen to -1.59 per cent in May as compared to 0.17 per cent in April, said the Ministry of Commerce & Industry.

The inflation in fuel and power category was recorded at -9.17 per cent as compared to 0.93 per cent in April.

For manufactured products the inflation fell from -2.42 per cent to -2.97 per cent in May.

“Decline in the rate of inflation in May, 2023, is primarily contributed by fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum and natural gas, and chemical and chemical products,” the Ministry said.  (KNN Bureau)