Zee Media Bureau
New Delhi: Deflationary pressure continued for the seventh month in a row with the annual rate of inflation, based on monthly WPI, stood at (-)2.36 percent for the month of May as compared to (-)2.65 percent for the previous month.
Inflation, as measured on the Wholesale Price Index (WPI), has been in the negative zone since November, 2014. In May last year, it was 6.18 percent.
Inflation was (-)2.65 percent in April, (-)2.33 percent in March, (-)2.17 percent in February, (-)0.95 percent in January, (-)0.50 percent in December and (-) 0.17 percent in November.
In April 2015, the manufactured products segment witnessed deflation for the second consecutive month as prices dropped by a record low of (-)0.52 per cent.
The Consumer Price Index data, released last week, showed retail inflation edged up to 5.01 percent in May on costlier pulses even as prices of fruits and vegetables eased during the month.
The Consumer Price Index-based inflation was at 4.87 percent in April 2015. The retail inflation was 8.33 percent in May 2014.
The Reserve Bank, which tracks retail inflation as a benchmark for its monetary policy, said earlier this month that price rise was still a worry for the central bank. RBI expects inflation to rise to 6 percent by January 2016.
With Agency Inputs
