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LATEST NEWS UPDATES | Wholesale price inflation eases to 15.18% in June but stays in double digits, 15 months on

Wholesale price inflation eases to 15.18% in June but stays in double digits, 15 months on

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published Published on Jul 14, 2022   modified Modified on Jul 15, 2022

-Moneycontrol.com

Food inflation rose to 12.41 percent in June from 10.89 percent, with the food index rising 1.3 percent month-on-month

India's inflation based on the Wholesale Price Index (WPI) declined to 15.18 percent in June, according to data released by the commerce ministry on July 14.

The WPI inflation was 15.88 percent in May, the highest in at least three decades. In June 2021, it stood at 12.07 percent.

Another month of double-digit wholesale price inflation in June means the wholesale prices have remained above the 10-percent mark for 15 months in a row.

The latest data, however, shows signs of easing inflationary pressures, with the all-commodity index of the WPI staying unchanged in June from May's 154.0.

A lack of movement in the all-commodity index is indicative of no sequential momentum in prices.

While there was no movement in the overall index, there were disparate underlying forces. Food inflation rose to 12.41 percent in June from 10.89 percent, with the food index rising 1.3 percent month-on-month.

Within food items, cereals posted a sequential decline in prices in June, with the index for wheat down 1.3 percent. Vegetables, as expected, saw a sharp spike in prices, driving the index up 16.5 percent.

On the other hand, manufacturing inflation fell to 9.19 percent - the lowest in 15 months. This came on the back of a 0.8 percent sequential fall in the index for manufactured products - the first such fall in six months. This helped drag the overall WPI inflation down in June.

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Moneycontrol.com, 14 July, 2022, https://www.moneycontrol.com/news/business/economy/wholesale-price-inflation-eases-to-15-18-in-june-8825681.html


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