Daijiworld Media Network- New Delhi

New Delhi, May 15: In a significant development for the Indian economy, the wholesale price inflation (WPI) cooled to a 13-month low of 0.85 per cent in April, offering a breather amid global economic uncertainties.

As per official data released by the Ministry of Commerce and Industry on Wednesday, the dip in inflation was largely attributed to a decline in the prices of food articles, fuel, and manufactured goods.

Industry experts say the trend may continue into the next month, given the ongoing corrections in commodity prices and stable supply conditions.

“The positive WPI rate in April is mainly due to the rise in prices of manufactured food products, chemicals, and transport equipment,” the ministry noted in its statement.

The easing of wholesale inflation comes at a time when retail inflation is also showing signs of moderation, raising hopes of an improved purchasing environment in the coming quarters.

Economists believe that the favourable inflation data could offer the Reserve Bank of India more room to maintain its current monetary policy stance, while also keeping an eye on monsoon projections and global oil prices.