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WPI inflation
Why is it in the news?
- Wholesale price-based inflation(WPI) slipped to about two-year low at 2.45% in May.
- WPI was 3.07% for the previous month and 4.78% during the corresponding month of the previous year.
More in the news
- Inflation in the food articles basket was 6.99% in May 2019, down from 7.37% in April, official data released on Friday said.
- However, onion prices spiked during the month with inflation at 15.89%, as against (-) 3.43% in April.
- Inflation in pulses continued in double digit for the fourth consecutive month at 18.36% in May, up from 14.32% in the previous month.
- The major fall in inflation has been due to falling prices of food articles, fuel and power items.
- WPI Inflation:(1) WPI index reflects average price changes of goods that are bought and sold in the wholesale market.(2) Wholesale price indexes report monthly to show the average price changes of goods sold in bulk, and they are a group of the indicators that follow growth in the economy.(3) WPI includes all the manufactured products and CPI includes food and services part.
Source
The Hindu.