India saw a deflation in wholesale prices in May as the wholesale price index (WPI) contracted 3.21 per cent, the government said in a statement. The Department of Promotion of Industry and Internal Trade (DPIIT) resumed releasing detailed wholesale price index (WPI) data after suspending it for a month. “This department has advised the field offices to collect price data through electronic means of the communication during the lockdown. The response rate for April 2020 has improved substantially. Final index for the month of April 2020 will be released in next month press note in the light of the updated data received from the selected sources,” DPIIT said in a statement. Food inflation too eased 1.13 per cent in May from 2.55 percent in the preceding month, it was reported earlier.

(Business Standard)