NEW DELHI, June 14 (Xinhua) -- The wholesale inflation in India declined 3.48 percent in May after dropping 0.92 percent in April, revealed the official data released by the Ministry of Commerce and Industry on Wednesday. This was the third consecutive month when the rate of wholesale inflation declined in the South Asian country. "Decline in the rate of inflation in May is primarily contributed by fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum and natural gas," said a statement issued by the ministry. According to a media report, this was the lowest rate of wholesale inflation in the past three years. Meanwhile, the data released by the Indian government two days ago showed that the rate of retail inflation in the country had dropped to 4.25 percent, from 4.7 percent in April and 5.7 percent in March.
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