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India’s inflation based on wholesale price index (WPI) maintained the declining trend in the month of May 2023 at (-) 3.48% as against (-) 0.92% recorded in April 2023. Decline in the rate of inflation is primarily contributed by fall in prices of food articles, non-food articles and crude petroleum & natural gas, coal, mineral oils and electricity.

The Component wise, primary articles index, having weight of 22.62%, declined 1.13% to 175.3 (provisional) in May 2023 from 177.3 (provisional) for the month of April 2023. Prices of Food Articles, Non-food Articles and Crude Petroleum & Natural Gas declined in May 2023 as compared to April 2023, while Prices of Minerals increased in May 2023 as compared to April 2023.

Fuel & Power index, having weight of 13.15%, declined 2.62% to 148.6 (provisional) in May 2023 from 152.6 (provisional) for the month of April 2023. Prices of Coal, Mineral Oils and Electricity declined in May 2023 as compared to April 2023.

Besides, Manufactured Products constituting the major portion of the index with weight of 64.23%, declined 0.35% to 140.7 (provisional) in May 2023 from 141.2 (provisional) for the month of April 2023. Meanwhile, for the month of March 2023 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 151.0 and 1.41% respectively.