Wholesale deflation at 3.48% in May vs 0.92% in previous month
The deceleration in WPI comes in line with the easing of May retail inflation, which came in at an 25-month low of 4.25 per cent.
The May, 2023 data print of -3.48 per cent is the lowest WPI print recorded since May 2020, when wholesale inflation was at -3.37 per cent.