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Tuesday, November 28, 2023

India’s wholesale inflation slides further to (-) 4.12 pc in June


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New Delhi: India’s wholesale inflation dropped further to (-) 4.12 per cent in June 2023 as compared to (-) 3.48 per cent recorded in the previous month, according to data released by Ministry of Commerce and Industry on Friday.

On a month-on-month basis, the wholesale price index (WPI)-based inflation declined by (-)0.40 per cent in June this year.

“The decline in the rate of inflation in June 2023 is primarily due to the fall in prices of mineral oils, food products, basic metals, crude petroleum and natural gas, and textiles,” said a government release.

The official data released on July 12 showed retail inflation inched up to 4.81 per cent in June, primarily on account of high food prices.

“The annual rate of inflation (Y-o-Y) based on the WPI Food Index changed from (-) 1.59 per cent in May 2023 to (-) 1.24 per cent in June 2023,” said the press release on wholesale inflation data.

The data showed primary articles’ inflation was (-) 2.87 per cent in June 2023, while the inflation rate for fuel and power was (-) 12.63 per cent during the period. Manufactured product inflation stood at 2.71 per cent in June.


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