Business & Economy

India's inflation rate declines to 4.7% for May 2013

NetIndian News Network

New Delhi, June 14, 2013

India's headline annual rate of inflation, based on the monthly wholesale price index (WPI), declined further to 4.7 per cent for May 2013 as compared to 4.89 per cent for the previous month and 7.55 per cent during the corresponding period of the previous year.
This is the fourth straight month that the inflation rate has slowed down and it is at its lowest level since November 2009.
An official statement, quoting provisional data, said that the official WPI for ‘All Commodities’ (Base: 2004-05 = 100) for May 2013 rose by 0.1 percent to 171.6 from 171.5 for the previous month.
The build-up of inflation in the financial year so far was 0.88 percent as compared to 1.80 per cent in the corresponding period the previous year.
According to the data released today, food inflation in Primary Articles went up to 8.25 percent from 6.08 percent in April 2013 but declined to 6.50 percent from 6.62 percent in Manufactured Products.
Inflation in the Fuel & Power group declined to 7.32 percent from 8.84 percent in April 2013, it said.
The index for Primary Articles, which have a weight of 20.12 per cent in the WPI, rose by 0.6 percent to 229.3 from 228.0 for the previous month.