Wholesale price-based inflation hit a 22-month low of 2.45% in May helped by falling prices of food articles, fuel and power items, and this in turn may prompt the Reserve Bank to go for another cut in key interest rates in the current fiscal.
The Wholesale Price Index (WPI)-based inflation was at 3.07% in April this year. It was 4.78% in May 2018.
Inflation in food articles basket was 6.99% in May, 2019, down from 7.37% in April, official data released on Friday said. However, onion prices spiked during the month with inflation at 15.89%.