5 March 2024

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Wholesale inflation

Wholesale inflation in India decreased at a quicker rate of 4.12% in June

According to data released by the Commerce Ministry on Friday, India’s wholesale price-based inflation decreased for the third consecutive month in June, falling to 4.12% on an annual basis from a contraction of 3.48% in May. It was 16.23 percent in June of the previous year.

In June, the WPI decreased 0.40 percent month over month. It was 16.23 percent in June of the previous year.

Decline in Rate of wholesale Inflation

According to a press statement from the government, the decrease in the rate of wholesale inflation in June was principally brought on by lower costs for food, basic metals, textiles, mineral oils, crude oil, and natural gas.

After declining 1.59 percent, the month before, the wholesale inflation rate for food index decreased by 1.24 percent in June on a year over year basis.

wholesale inflation

Inflation for primary goods fell to 2.87 percent in June. Vegetable inflation fell by 21.98% in the food goods basket in June, but milk and pulse inflation increased by 9.21% and 8.59%, respectively.

In June, the inflation rate for gasoline and electricity dropped by 12.63%. After falling by 2.97 percent in May, the inflation rate for manufactured goods decreased by 2.71 percent in June. However, on a month-over-month basis, the inflation rate for manufactured goods fell by 0.50 percent in May and June.

LPG, petrol, and HSD inflation all decreased within the fuel & power basket by respective amounts of 22.29 percent, 16.32 percent, and 18.59 percent. Inflation related to crude oil decreased 32.68 percent year over year in June.

In June, India’s retail (CPI) inflation increased to 4.81 percent from a 25-month low of 4.25 percent in May, according to figures issued on Wednesday by the ministry of statistics. It stayed within the 2 to 6 percent tolerance range set by the Reserve Bank of India (RBI).