How to configure nginx for Wordpress

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http://askubuntu.com – I've installed everything that is needed by Wordpress i.e. nginx 1.2.5 (built from source on /usr/local/nginx), php-fpm with other php packages and mysql via apt-get. I downloaded wordpress-3.4.2.zip and extracted it in /usr/local/nginx/html/blog. I've created MySQL database for wordpress with all privileges. When I visit localhost/blog from my browser I get 500 Internal server error. Is there any special configuration that needs to done in nginx for making Wordpress work? (HowTos)