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India Wholesale Prices Fall In May

India's wholesale prices declined in May, data from the Ministry of Commerce & Industry showed on Monday.

The wholesale price index dropped 3.21 percent year-on-year in May, after a 0.42 percent increase in March. Economists had expected a 1.05 percent fall.

The figures of May is compared with the final figures of March due to limited information available for the month of April.

The primary articles price index declined 2.92 percent annually in May, reversing a 2.16 percent rise in the previous month.

Food price inflation increased to 1.13 percent in May, while prices for non-food articles declined 3.53 percent.

Fuel and power prices decreased 19.83 percent in May, following a 2.93 percent fall in the prior month.

Prices of manufactured products dropped 0.42 percent after 0.25 percent rise in the previous month.

On a monthly basis, the wholesale prices fell 2.24 percent in May.

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