India's wholesale prices continued its downward trend in May, provisional data from the Ministry of Commerce and Industry showed Monday.
The wholesale price index declined 2.36 percent in May from last year, following a 2.65 percent drop in April. Prices were expected to fall 2.49 percent.
Cost of food articles gained 3.8 percent, while fuel and power prices logged a double-digit decrease of 10.5 percent and manufactured product prices slid 0.64 percent.
The build up inflation rate in the financial year so far was 0.91 percent compared to a build up rate of 0.94 percent in the corresponding period of the previous year.
Data published late last week showed that consumer price inflation accelerated to 5.01 percent in May from a four-month low.
The Reserve Bank of India early this month said inflation is expected to be pulled down by base effects till August before start rising to about 6 percent by January 2016, which is slightly higher than the projections in April.
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