India's May WPI falls to 2.17%

India's annual rate of inflation based on wholesale prices decelerated in May to 2.17 per cent from 3.85 per cent in April as food prices eased, official data showed on Wednesday.

According to data from the Ministry of Commerce and Industry, the wholesale price index (WPI) with the revised base year of 2011-12 in May 2016 declined to 0.90 per cent.

On a year-on-year (YoY) basis, expenses on primary articles, which constitute 22.62 per cent of the WPI's total weightage, declined by 1.79 per cent as compared to a rise of 4.38 per cent during the same month a year ago.

However, food articles' prices dipped 2.27 per cent during the month under review.

Prices of manufactured products, which comprise nearly 64.23 per cent of the index, rose by 2.55 per cent.