May WPI inflation hits over 7-year low of (-) 3.48% on declining fuel, manufactured items prices
The wholesale price-based inflation rate fell to a seven-and-half-year low of (-) 3.48 per cent in May on easing prices of food, fuel and manufactured items, strengthening the case for the RBI to continue with the rate hike pause in the current fiscal. This is the second straight month when WPI has been in the negative zone, mainly due to a higher base and falling prices of fuel and manufactured goods. Food prices also eased during May.
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