Wholesale prices fell 0.6% in May due to energy tax reduction
The monthly decline in wholesale prices is attributed to the reduction in energy tax rate on petroleum products, which decreased by 7.3%.
The wholesale price index rose 5.9% year-over-year, driven by a 30.5% increase in petroleum products.
Non-ferrous ores, metals, and semi-finished metal products also saw a 36.1% year-over-year increase, despite a 0.4% monthly decline.