Wholesale inflation in food articles for the month of December 2014, January 2015, February 2015, March 2015 and April 2015 was 4.95%, 8%, 7.83%, 6.27% and 5.73%, respectively.
Wholesale inflation (WPI) for the month of May has inched up to to a negative 2.36% for the month of May as against a negative 2.65% for April 2015. This is the seventh straight month of wholesale inflation remaining in the negative zone, i.e. prices are lower than what they were in the given period of last year.
However, the prices of your food ingredients are continuing to go up when compared to the same period of last year. The inflation figure for food articles in the month of May stood at 3.8%. The index for food articles inched up by 0.5% due to higher price of gram (11%), urad (8%), arhar (6%), masur and tea (5% each), moong (4%), fish-marine (3%), egg (2%) and jowar, condiments & spices and milk (1% each). "However, the price of beef & buffalo meat, poultry chicken and barley (3% each), ragi (2%) and maize, wheat, coffee, pork and fruits & vegetables (1% each) declined," Ministry of Commerce and Industry said.
Although, the rate of inflation in food articles has eased to a six-month low, it still continues to go up even as combined inflation continues to be in a negative zone.
What this means is that even as inflation in food articles is easing since the beginning of the year, the prices are inching up when benchmarked to the same months of last year.
Wholesale inflation in food articles for the month of December 2014, January 2015, February 2015, March 2015 and April 2015 was 4.95%, 8%, 7.83%, 6.27% and 5.73%, respectively.
source: tradingeconomics.com
Pulses have shown the highest inflation rate this May with its figure standing at 22.84%. Onions come next with its inflation rate of 20.41%.
Other products that have seen an increase in their inflation rate are fruits (8.65%), wheat (2.79%), milk (6.85%), eggs and meat (0.86%).
Cereals (-0.13%), rice ((-1.77%), vegetables ((-5.54%) and potato ((-51.95%) are the only products that have seen a decline in their inflation rate on a yearly basis.
Apart from food products, you have also been paying more for beverages and tobacco year-on-year.
The figures of rate of inflation in this category stood at 8.37 in December last year and now it is 2.73.
source: tradingeconomics.com
May 2015 has been the first month in the past 12 months when wholesale inflation has actually inched up although still continuing to be below zero.
Inflation for the past seven months has been -0.17% (November 2014), -0.5% (December 2014), -0.95% (January 2015), -2.06% (February 2015), -2.33% (March 2015), -2.65% (April 2015) and -2.36% (May 2015).
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